Nes­tle beats fore­casts as pre­mium pet food proves to be the cat’s whiskers

The Daily Telegraph - Business - - Business -

◆ Nestlé cashed in on de­mand for high-end pet food as peo­ple lav­ished at­ten­tion on their cats and dogs dur­ing lock­down, writes Han­nah Ut­t­ley.

It was boosted by a 12.5pc jump in sales at its Pu­rina Pet­care arm, with pre­mium brands Pu­rina Pro Plan and Pu­rina One both par­tic­u­larly pop­u­lar.

Plant-based food ranges also did well amid a craze for ve­g­an­ism, help­ing Nestlé off­set de­clin­ing sales in its bot­tled wa­ter and con­fec­tionery busi­ness in the first half.

Pet prices surged dur­ing lock­down, with the aver­age cost of a dog dou­bling over the past year to £1,400 ac­cord­ing to the on­line mar­ket­place Pet­s4Homes.

Over­all, con­sumer goods con­glom­er­ate Nestlé posted a 2.8pc rise in sales dur­ing the first six months of the year – beat­ing an­a­lyst fore­casts of 2.3pc, and putting the Swiss group ahead of ri­vals Unilever and Danone which both suf­fered a de­cline in the sec­ond quarter.

Net prof­its also beat ex­pec­ta­tions at 5.9bn Swiss francs (£4.9bn).

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