Nestlé shares jumped 4.1 per cent this morning to peak at CHF 117.12 after the multinational raised its organic growth guidance.
In its nine-month trading update, growth stood at 7.6 per cent thanks to “responsible” price increases and high demand.
Total reported sales in the period rose 2.2 per cent to CHF 63.3 billion.
Nestlé is said to have performed well across “most geographies”, with growth at 7.1 per cent in “developed markets” and 8.3 per cent in “emerging markets”.
Although it praised the success of its coffee businesses, Starbucks sales dipped to 15.5 per cent from 16.7 per cent in June.
It comes despite the brand launching “ready-to-drink” coffees across Latin America, Southeast Asia and Oceania this summer.
Vegetarian and plant-based food saw double digit growth, reflecting the shift towards “flexitarian” diets.
E-commerce sales now account for one in seven transactions, having grown by 17.2 per cent.
“We are pleased with Nestlé’s strong organic growth in the nine months, driven by broad-based contributions from most geographies and categories,” chief executive Mark Schneider said.
“In the third quarter, we increased pricing in a responsible manner, while maintaining strong real internal growth.
“Investments in innovation, digitalization and sustainability further supported growth.”