Nestlé to increase prices again despite upsurge in 2022
KitKat maker, Nestlé will increase its prices again this year despite an 8.2% increase in 2022 to cover the increasing cost of ingredients.
Nestlé, which also makes Buitoni pasta, Buxton mineral water and Nescafe coffee said it was taking a “massive” hit to its margins at the moment.
CEO of Nestlé, Mark Schneider said the company suffered “many challenges and tough choices for families, communities and businesses” which led to lower spending on many of the firm’s products in 2022.
As a result the company will spend 2023 with a focus on restoring their gross margin.
Nestle sells more than 2,000 brands covering coffee, pet care, baby food, drinks, cereals and prepared dishes.
Tags:
Related Posts
Genesis Energy,Desert Tech. announce clean energy alliance
Genesis Energy Holding, a Pan-African leader in clean energy infrastructure, and Desert Technologies Industries Factory CJSC, a Saudi-based…
By
Mouka reaffirms raw material leadership in Africa
Mouka, Nigeria’s leading manufacturer of quality sleep solutions and a proud member of the Dolidol International group, has…
Agboola advocates stronger cross-border infrastructure
Flutterwave CEO and Founder, Olugbenga “GB” Agboola , has called for accelerated investment in Africa’s cross-border payment infrastructure…
Munga increases stake in Equity Group by over $1.2m
Equity Group founder, Peter Munga, has made a strong return to the lender’s shareholder register, purchasing 3.64 million…
Nigerian Breweries gains N383bn revenue in Q1 2025
Nigerian Breweries Plc (NB) has posted a strong financial turnaround, recording a 69 per cent increase in net…
IHS Brazil expands Amazon coffee initiative
IHS Brazil has planted approximately 20,000 new seedlings across 10 hectares as part of its ongoing support for…
Maersk expands West Africa footprint with Senegal facility
In a bold move to strengthen its logistics footprint across West Africa, global shipping and logistics giant Maersk…
Ogunlesi leads BlackRock’s takeover of key Panama Canal ports
Nigerian mogul and the Founding Partner, Chairman, and Chief Executive Officer of Global Infrastructure Partners (GIP), Adebayo Ogunlesi,…
Gallery
