Nestle, the world's biggest food group, reported first-quarter sales down 2.1 per cent as a strong Swiss franc and a late Easter weighed, but said strong brands should help it meet its full-year target.
Nestle said steps to respond to the economic crisis such as promoting cheaper products and cutting costs as well as its strong brands and global reach meant it still expected 2009 organic sales growth of "at least approaching 5 per cent".
Nestle Ireland employs around 150 people in marketing, sales and distribution, based in Citywest, Co Dublin.
"The confirmed outlook and good organic growth in the first quarter is positive," said DZ Bank analyst Robert Czerwensky.
Organic sales growth, which strips out currency effects and acquisitions, was 3.8 per cent in the first quarter.
Total sales slipped 2.1 per cent to 25.2 billion Swiss francs ($21.5 billion) from 25.7 billion a year ago as the strong Swiss currency had a negative impact of 5.2 per cent.
A Reuters poll of 11 analysts had on average forecast on total sales rising 1.2 per cent to 26 billion Swiss francs and a 3.7 percent rise in underlying or organic sales.
Chief executive Paul Bulcke noted the 3.8 per cent underlying growth figure was measured against tough comparisons with a near 10 per cent rise in the year-ago quarter.
"We conside first-quarter organic growth of 3.8 per cent a good achievement in light of the weak environment and very high comparison base," said Vontobel analyst Claudia Lenz.
Analysts have said the maker of Nescafe coffee, KitKat chocolate bars and Maggi soup was well positioned to ride out the recession compared to its rivals due to its comprehensive range of products and wide geographical presence.
Reuters