Nestle : Q1 at +7.6% l-f-l, ahead of expectations both for the volume/mix and prices. Petfood, waters and Americas driving growth
>Q1 set to underpin Nestlé’s resilience and growth status - Outperform rating maintained. The P/E of 26x is still a solid level for a group renowned for its defensive status and which shows quarter after quarter, as in Q1, that it combines resilience and growth. The high level of organic growth in Q1 is clearly underpinned by the price effects but the volume/mix effect of 2.4% remains very respectable in view of the high comparison bases from the last two years.§...Nestle is a holding company which is based in Switzerland. Through its subsidiaries and allied companies, Co. is engaged in the food processing industry. Co.'s product portfolio has seven categories, Powder and Liquid Beverages, Nutritional and Health Science, Milk products and ice cream, Prepared dishes and cooking aids, PetCare, Confectionery and Water.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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