Nestlé Sales Growth Disappoints

Shares in the world's largest food firm, Nestlé, fell by about 5% on August 12 after the firm posted its results for the first half of 2009, which showed that sales growth had failed to match expectations. Organic sales growth, which strips out currency effects and acquisitions, came in at 3.5%, below consensus expectations of 3.9% and well below the 'approaching 5%' full-year target. As a consequence, Nestlé revised down its full-year forecasts, suggesting that consensus forecasts of 4.3% growth were now a good interpretation of the company's guidance. The result was seen as particularly disappointing because rivals Unilever and

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