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
New: KenGen Green Energy Park Attracts Sixth Investor in Naivasha
Kenya Electricity Generating Company (KenGen) has welcomed a sixth investor to its Green Energy Park in Naivasha, reinforcing the facility’s…
By
Coronation Merchant Bank Appoints New CEO
Coronation Merchant Bank has appointed Obeahon Ohiwerei as its new Managing Director and Chief Executive Officer following a no-objection approval…
BUA Foods Eyes Market Leadership with new Multi-Billion Expansion Programme
BUA Foods has unveiled the largest investment programme in its history as it seeks to become Nigeria’s biggest…
New: Investor Confidence Drives Access Bank Ghana’s 7.44% Share Sale
Access Bank Ghana has completed the sale of a 7.44% equity stake on the Ghana Stock Exchange (GSE),…
Gallery
