Nestle 9-month sales slip

22nd October 2009, Comments 0 comments

Food giant Nestle said Thursday its sales fell to CHF 79.5 billion, hurt by a strong Swiss franc.

Geneva -- Global food giant Nestle said Thursday its nine-month sales slipped 2.3 percent to CHF 79.5 billion (EUR 52.6 billion, USD 78.9 billion), hurt by a strong Swiss franc.

The currency impact took 5.2 percent off its sales for the first nine months of 2009, it said, while divestments added 0.6 percent.

Organic growth -- which excludes effects from acquisitions and currency fluctuations -- stood at 3.6 percent for the period, it added.

Paul Bulcke, chief executive of Nestle, confirmed the group's outlook, saying he expected that "volume-driven organic growth will further accelerate."

The food giant posted full year profits of CHF 18 billion in 2008.

AFP / Expatica

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