Wednesday 18 October 2017

Nestle hoping for 5pc growth

Nestle chief executive 0fficer Paul Bulcke shakes hands with a robot named
Nestle chief executive 0fficer Paul Bulcke shakes hands with a robot named "Pepper" after the full year 2014 results conference at the company headquarters in Vevey.
Independent.ie Newsdesk

Independent.ie Newsdesk

Nestle, the world's largest packaged foods maker, forecast sales growth around 5pc this year, at the low end of its long-term goal, as it grapples with deflation in Europe and a slowdown in China.

Nestle's long-term model calls for growth of 5pc to 6pc but it fell below that in 2014, coming in at 4.5pc.

Chief executive Paul Bulcke called the results "solid" in a tough environment. He said 2015 would be similar, but that Nestle still aimed for growth "around 5pc", language analysts perceived as giving some wiggle room to again miss its long-term target.

"I think in the volatile world we're living in, that's appropriate," Mr Bulcke said. " The goal includes cost savings and efforts to turn around the struggling American frozen foods business and the company's food business in China.

Irish Independent

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