Nestle 9-month sales slip
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