Nestle gloomy on 2014 prospects
Nestle warned yesterday that 2014 would be another challenging year, after revealing that sales growth slowed to 4.6 per cent last year. The maker of Kit-Kats and Buitoni pasta has been hit by weaker emerging market demand and pressure on prices in Europe, with people still cutting back. Nestle’s net profit fell to SFr10.02bn (£6.7bn) due to the costs of portfolio restructuring and a negative currency impact. Sales rose to SFr92.2bn but were shy of analyst forecasts.