Nestle SA sailed past ailing consumer-goods rivals by reporting higher sales amid strong demand for coffee in home offices and pet food.
First-half revenue climbed 2.8% on an organic basis, the maker of Lean Cuisine meals said Thursday. Analysts expected 2.3%. The company said it expects 2% to 3% growth this year and an improvement in its underlying trading operating margin.
The results show how Nestle’s broad portfolio has protected it throughout the lockdown as it outperformed rivals like Unilever and Coca-Cola Co., which recently reported lower sales. Sales of Starbucks-brand coffee products rose more than 10%, while Nespresso had mid-single-digit growth.