Nestle Struggles with Sales, Syngenta Revenues Plunge

Nigel Thomas
17 Apr, 2015
New York City

Accor first-quarter sales climbed 8% to

[R]4:00 PM Frankfurt – Accor first-quarter sales climbed 8% to €1.2 billion. Nestle quarterly sales barely increased 0.5%. Syngenta said quarterly plunged 14% to $4 billion.[/R]

In London trading, FTSE 100 index slumped 1% or 72.60 to 6,987.85 and in Frankfurt the DAX index declined 1.8% or 217.40 to 11,781.46.

In Paris, CAC 40 index dropped 1.1% or 58.76 to 5,165.73.

Accor SA gained 1.2% to €49.46 after the France-based hotels operator said revenues in the first-quarter ending in March climbed 7.9% to €1.23 billion from revenues of €1.135 billion in a year ago period.

HotelServices’ first-quarter business volumes amounted to €2.9 billion and HotelInvest revenue jumped 4.8% to €1.06 billion.

Nestle SA fell 0.5% to 76.25 Swiss francs after the Switzerland-based food and beverage maker reported total group sales increased 0.5% to 20.92 billion francs from 20.82 billion francs in a year ago period.

Nestle confirmed organic growth forecast for the full-year of about 5% and improvements in margin and operating profit.

NicOx SA dropped 1.7% to €1.93 after the France-based biopharmaceutical company said revenues in the first-quarter ending in March surged 133.3% to €2.1 million from €0.9 million in a year ago period.

Syngenta AG declined 4.5% to 327.90 Swiss francs after the Switzerland-based insecticides maker reported group sales in the first-quarter ending in March plunged 14% to $4.02 billion from $4.68 billion in a year ago period.

The company said total integrated sales in the quarter declined 14% to $3.85 billion after sales dropped 13% in Europe, Africa and the Middle East and tumbled 17% in each to North America and Latin America. Sales from Asia Pacific region slumped 10%.

The company added sales form lawn and garden segment in the quarter plummeted 15% to $172 million from a year ago period.