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Daily Digit: Sales lift at Nestle

Wednesday, October 16, 2013 - 01:08

Oct. 17 - Nestle blames weak demand in Europe and Asia for missing its sales target in the third quarter. Hayley Platt looks at the outlook for the world's biggest food group.

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4.4 percent is today's daily digit - underlying sales at Nestle in the first nine months of the year. The figures were well below last year's 6.1 percent but - unlike its rival Unilever - the world's biggest food group did see a near 9% improvement in emerging markets where it makes almost half its sales. None of Nestle's markets saw a fall - despite poor consumer demand in austerity-hit Europe. As a result Nestle shares rose almost 2 percent although BGC's Mike Ingram says there could yet be pain from Asia. SOUNDBITE: Mike Ingram, Market Strategist, BGC Partners, saying (English): "They're talking about difficulties in China and of course China as an economy was a concern back in the summer, rather less so over recent months but as I've said recently I'm not convinced that they've necessarily turned the corner there." The Swiss-based firm has trimmed its full year growth target by a fifth to around 5 percent. Earlier this week French yogurt maker Danone announced a similar growth target in the wake of product recalls and a bribery scandal in China.

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Daily Digit: Sales lift at Nestle

Wednesday, October 16, 2013 - 01:08