Nestlé is counting on new products and price increases in the rest of 2016 to meet its full-year sales growth target after price pressures weighed on the food giant’s growth in the first half.
The world’s largest packaged foods maker confirmed its full-year outlook after “organic” sales growth — adjusted for acquisitions, divestitures and currency swings — slowed to 3.5 per cent in the first half, hit by weakness in China and deflation in Europe.
This is below the average estimate of 3.8 per cent in a Reuters poll of analysts.
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