Nestlé Reports Slowing Sales Growth

Switzerland-based Nestlé has reported a sharp deceleration in organic sales growth for the first quarter of 2009. Over the three months to the end of March Nestlé's total sales increased by only 3.8% on an organic basis, with the pace of growth falling across all divisions and some previously resilient divisions reporting negative or zero growth. Total group sales slipped by 2.1% due to a negative currency impact, but Nestlé has insisted it still expects 2009 organic sales growth 'at least approaching 5%'.

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