Slow growth in Nestlé revenue
FOOD GIANT Nestlé grew more slowly than predicted in the first half of the year because it did not manage to raise prices as much as expected, the Swiss company said yesterday. The world’s biggest food maker reported that its revenue increased by 2.3 percent year-on-year – not taking into account bought or sold subsidiaries or currency effects. Analysts had predicted that this so-called organic revenue would grow at a faster pace, a view shared by Nestlé chief executive Mark Schneider. “Organic growth in the first half did not fully meet our expectations,” Schneider said in a statement. Nestlé’s overall revenue fell by 0.3 percent, to 43 billion Swiss francs (R586.2bn).