SWITZER­LAND:

The Pak Banker - - COMPANIES/BOSS -

Paul Bul­cke, CEO of the Swiss food and bev­er­age gi­ant Nes­tle, said on Thurs­day that China has been and re­mains its im­por­tant growth driver. "Nes­tle has never stopped grow­ing in China, even in the last few years of slow growth," said Bul­cke dur­ing a press con­fer­ence held at the com­pany's head­quar­ters in Vevey. Nes­tle an­nounced on Thurs­day a full-year or­ganic growth of 4.2 per­cent in 2015, fall­ing short of its long-term tar­get of 5-6 per­cent growth. Its per­for­mance in the Asian mar­ket was se­ri­ously im­pacted by the Maggi noo­dles is­sue in In­dia. How­ever, the an­nual re­port noted that China has shown in­creased mo­men­tum to­wards the end of last year. "China's GDP re­mains ro­bust. And it's mov­ing from in­vest­ment-driven ex­pan­sions to­wards pri­vate con­sump­tion," said Bul­cke, adding that "we are con­fi­dent in our abil­ity to ac­cel­er­ate our growth pro­gres­sively with sus­tain­abil­ity" in Chi­nese mar­ket. Mean­while, Bul­cke noted that Chi­nese con­sumer ex­pec­ta­tions have been chang­ing very fast, es­pe­cially with the de­vel­op­ment of e-busi­ness. In 2015, half of Nes­tle's sales was ac­com­plished by e-com­merce in China. At the end of last year, Nes­tle has strength­ened its global ca­pa­bil­i­ties in e-com­merce by sign­ing a strate­gic co­op­er­a­tion part­ner­ship with Alibaba, China's big­gest on­line trader, to in­crease its on­line sales and build its brands.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.