Nestle aims at expansion of out-of-home consumption
Nestle reported ITS Q2results for 2023, which were in line with expectations. The company achieved double-digit growth across all its products, primarily driven by a favourable product mix, increased volume, and improved pricing. Additionally, during the quarter, the out-of-home (OOH) business experienced rapid acceleration. The gross profit margin (GP margin) expanded by 90 bps (0.9%)…
WORLD DAIRY NEWS Nestlé’s mission to cut emissions
The company says it is working with farmers, suppliers, leading universities, industry organisations, start-ups and local governments to research, test, validate, and scale up different agricultural solutions and technologies, including for dairy livestock. In a message to mark World Milk Day on June 1, the company noted that one area of research is on feed…
Nestle India posts 25% jump in Q1 profit
India was a bright spot for global consumer goods major Nestle in the March quarter, reporting a 24.7% year-on-year growth in consolidated net profit to Rs 737 crore, while consolidated revenue rose 21% for the period versus last year to Rs 4,831 crore. The results beat Street estimates by a wide margin, with a poll of analysts…
Amul, seeks to take on the ‘Cokes of the World’
Amul, India’s largest dairy brand, is rapidly scaling up its portfolio of non-dairy products to become a total foods and beverages company to compete with Nestle, Britannia, Coca-Cola and ITC, its new managing director, Jayen Mehta, said. Speaking to ET in his first interview after succeeding RS Sodhi in January at the Rs 61,000-crore brand…
Lactalis buys out Fonterra-Nestlé dairy venture in Brazil
French dairy major Lactalis has acquired the joint-venture assets in Brazil owned by Fonterra and Nestlé. Lactalis, which already has a presence in the South American country, has struck a deal for Dairy Partners Americas (DPA) for BRL700m (US$131.5m). Fonterra holds a 51% stake in the venture, set up in 2003, and Nestlé owns 49%. The transaction is expected…
Nestle to start milk procurement centre in Jammu: JKDFA
Nestle India will open its fresh milk procurement centre in Jammu by the end of this month. This was disclosed by office bearers of J&K Dairy Farming Association (JKDFA) while addressing a press conference, here today. They said that Amul, one of the largest milk processing company in India, was giving very low rates of milk…
Fonterra and Nestlé partner to create net zero carbon emissions dairy farm
The partnership hopes to achieve a “New Zealand first” – a commercially viable net zero carbon emissions dairy farm. The five-year project will be run with co-partner Dairy Trust Taranaki and will examine all aspects of the 290-hectare farm’s operations to reduce carbon. The initiative aims to cut emissions by 30% by mid-2027, with a…
Nestlé Is Set To Release Animal-Free Dairy Products This Year
Food and beverage giant Nestlé has announced that it is “exploring” the potential of animal-free dairy through a partnership with California-based Perfect Day. The news makes Nestlé the latest in a growing list of established and start-up companies to look to the alternative dairy protein manufacturer as a supplier for new product lines. Starbucks and Mars are included in…
Nestle gung-ho about India, to invest 5000 Crores by 2025
Buoyed by the heralding of an “Indian age” in its business, Nestle has charted a ₹5,000-crore accelerated investment plan till 2025 to grow its India business. Speaking at a select media roundtable on Friday, Mark Schneider, CEO, Nestle SA, said: “We’re not only talking about an Indian decade here … but about the Indian age…
Nestle Q4 results: Net profit dips 20% YoY to Rs 387 cr; rev up 9%
FMCG giant Nestle India on Thursday reported a net profit of Rs 386.66 crore for the October-December quarter, down 19.99 per cent year-on-year (YoY) from Rs 483.31 crore recorded during the same period last year. The company’s revenue from operations came in at Rs 3,739.32 crore, up 8.93 per cent YoY compared to Rs 3,432.58…