The UK branch of Swiss food giant Nestlé has denied it is in crisis over poor confectionery and chocolate sales in 2003.
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Alastair Sykes, chairman of Nestlé UK, said confectionery sales slid 2% in 2003 compared to the previous year, while sales of KitKat fell more than 9% and sales of KitKat Chunky fell 18%, reported the Telegraph.
“This is not a situation I am happy with but not a situation I would describe as a crisis,” Sykes was quoted by as saying.
Group chief executive Peter Brabeck said the company expected to make up some lost ground during 2004.
“There is a loss of volume and loss of market share but not to the extent that the business is in danger. We would hope to report back in a year that we have recovered at least some of that loss,” Brabeck was quoted by the Telegraph as saying.
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