The Nestlé Group's consolidated sales for the first ten months of 1999 amount to CHF 60.5 billion, an increase of 2.2 percent over the period January-October of 1998 and of 3.6 percent at comparable structure and constant exchange rates.
In spite of a difficult economic environment in Eastern Europe and in South America, the Group confirmed its acceleration of sales throughout the first ten months. Cumulative real internal growth at the end of October 1999 stood at 3 percent. At today's press conference, the Group's Management disclosed further that the negative impact of exchange rates, with –2.4 percent, is decreasing, while acquisitions net of divestitures contributed one percent to sales growth.
Finally, price adjustments account for 0.6 percent, reflecting overall low inflation rates and favorable raw material costs. Nestlé expects the positive trend to continue for the remaining weeks of 1999 and looks forward to consolidated sales of more than CHF 73 billion for the year as a whole. Profits should grow at a rate corresponding at least to the growth of sales.