Nestle hoping for 5pc growth
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.