Swiss growth outlook cut Nestle’s reported better-than-expected results for the first six months of the year.
The world’s biggest food group also said it expects the price of raw materials to fall in the second half of this year; as a result it should meet its profit forecast.
Sales were boosted by strong demand from emerging markets and the company put up prices passing on soaring raw materials costs – like coffee, cocoa and milk – to its customers.
First-half sales grew 12.9 percent in emerging markets, compared with just 2.6 percent in developed markets, with volume growth in Europe practically flat.
More about: Economic growth, Nestlé, Raw material, SwitzerlandCopyright © 2013 euronews
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