Nestle raises full-year sales guidance after nine-month sales beat

Nestle reported better-than-expected nine-month sales on Wednesday and raised its full-year guidance as the world’s largest packaged food company successfully passed on price increases to customers.

The maker of KitKat chocolate bars and Nescafe instant coffee posted sales of 69.1 billion Swiss francs ($69.43 billion), beating the 68.9 billion francs forecast in a company-gathered consensus of 23 analysts.

Organic growth, which cuts out the impact of currency movements and acquisitions, was 8.5% in the nine months to the end of September, better than the 8.3% increase that was forecast and the company’s highest organic growth since 2008.