Nestle saw its sales growth slow in the first nine months of the year as ongoing weakness in Europe and the continued economic slowdown in emerging markets affected results.
Organic sales growth for the Swiss food giant slowed to 4.4% in the nine month period from 6.1% in the prior year period. Sales increased 4% to CHF68.4m (US$) but missed a Reuters estimate of CHF69.3m.
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Organic growth edged up 0.9% in Europe where Nestle said it faced a “difficult” economic situation in central and eastern Europe and a continued “challenging” operating environment in southern Europe.
In Asia, Oceania and Africa, Nestle recorded growth of 6.9%, despite what Nestle said was “continuing general economic slowdown” across the emerging markets and “local conflicts and civil disturbances” that disrupted several markets.
In the Americas, organic growth was up 5.1%. Globally, Nestle grew its business 1.1% in developed markets and 8.8% in emerging markets.
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