Slow growth in Nestlé rev­enue

The Star Early Edition - - INTERNATIONAL -

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).

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