Nestlé falls short of its growth targets
Nestlé, the world’s largest packaged foods maker, has had a difficult start to 2016 and fallen short of its sale growth targets during the first half of the year. The company is counting on new products and price increases in the second half of the year to meet its full-year sales growth target after a weaker than expected first half, the company said on Thursday.
It has struggled to overcome weak pricing and loose demand in key markets, including China where it has been effected by the broad economic slowdown.
Chief Executive Paul Bulcke said, “While we continued to address challenges in China, we enjoyed good performances across the U.S., Europe, South East Asia and Latin America and expect this to continue in the second half.”
We also expect pricing, which reached historically low levels in the first half, to recover somewhat in the coming months,” he continued.
