Global food and consumer products giant Unilever missed second-quarter expectations as a slowdown in emerging markets and declining prices in developed ones hit sales.
Nestlé’s share price fell 2.3% on Thursday as the company announced its slowest growth in three years, with developing markets hit by natural disasters and continued market weakness in Europe and the Americas.
Nestle yesterday reported organic sales rose by seven per cent in
the first nine months of this year, with the company successfully
managing to offset rising raw material costs by hiking prices.
Nestlé saw a decrease in revenue and profits in 2003, but the
company has managed to stay within its targets for organic growth
and claims that it is "cautiously optimistic" for 2004.
