Swiss food giant Nestlé on Thursday reported first-half sales up 9.2% to 45.6 billion Swiss francs, boosted by price hikes to offset rising costs, and revised its objectives for 2022.
The group, which saw its net profit fall by 11.7% to 5.2 billion francs, in particular due to asset write-downs, raised its sales growth target to around 7% to 8%, against 5% previously.
On the other hand, it reduced its operating margin target to 17%, against 17 to 17.5% previously targeted, he said in a press release.