While Nestlé shares fell slightly from daily highs, they were still positive at the end of the trading session.
Traders report speculation that the Vevey food company may use the half-year results release to lower the bottom line for organic sales growth this year. The inclusion of the papers in the “Most Preferred List” by Kepler Cheuvreux for European consumer goods manufacturers is proving to be trend-enhancing, it goes on to say.
At the closing bell Nestlé name gained 1.14 percent to 74.68 francs. The daily highs are even at 74.78 francs. By contrast, the market as a whole (SMI) recovered by just over 1 percent after the setback of the previous day.
Continue reading “Nestlé shares higher due to speculation surrounding an increase in growth targets”
The food multinational Nestlé is rebuilding its global computer science and is cutting jobs in Switzerland.
In the future, the Group wants to make better use of its technology center in Barcelona and other locations. The reorganization could lead in this country according to the information of the group to the reduction of up to 500 places. At Nespresso there is an additional shift of 80 jobs to other countries.
The job cuts in IT should be completed within 18 months, as Nestlé announced on Tuesday in a statement. Of these, around 320 jobs are affected at the Group headquarters in Vevey, the others are in Lausanne and the surrounding area, as a Nestlé spokesman spelled out for AWP demand.
Continue reading “Nestlé is building up to 500 IT jobs in Switzerland”
Nestle (Malaysia) Bhd posted its highest fourth-quarter net profit of RM133.54 million on the back of continued sustainable cost management and different phasing of marketing investments in 2017.
According to The Edge, its net profit for the financial year 2017 (FY17) was RM645.8 million, up 1.36 per cent from RM637.13 million in FY16, while its revenue climbed 3.89 per cent to RM5.26 billion from RM5.06 billion in FY16.
The group also proposed a final dividend of RM1.35.
However, despite the good results, analysts view were mixed on Nestle’s ratings.
Continue reading “Analysts mixed on Nestle’s ratings despite it hits record high after posting 4Q results”