By Giulia Petroni

Nestle reported a 7.8% organic sales growth in the first nine months of the year driven by price increases amid high inflation levels, and backed its full-year outlook.

The Swiss food and beverage giant said sales stood at 68.83 billion Swiss francs ($76.57 billion) in the period from CHF69.13 billion a year earlier, driven by pricing at 8.4%. Real internal growth was minus 0.6%, but the company said the recovery of volume and mix is underway.

A company-compiled consensus estimate had forecast organic sales growth of 8.1%.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

October 19, 2023 01:49 ET (05:49 GMT)

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