For the first nine months of this year, sales of Swiss holding company in Russia showed triple-digit growth "in double figures". In other European countries, and the world at large, it slows down. Only significant sales on the Russian market grew at the expense of Nescafe and animal feed.

According to the Agency, the sales of Nestle in Europe, the middle East and North Africa increased from the beginning of the year about 3% to over 12 billion Swiss francs ($12.3 billion). Total sales of the company worldwide grew more modestly, by 2.5% to 65.5 bn Swiss francs ($66 billion), its weakest growth in Nestle for the past 10 years. The company has summed up the markets of developing countries. In addition, the holding company is forced to reduce prices in most countries of Europe and North America.

The Swiss food giant on Thursday lowered its forecast for the current year, saying that now expects to increase annual sales by 3.5% after the first nine months of year sales rose by 3.3%.

Earlier it was predicted that organic sales growth in 2016 will amount to about 4%. Like other food manufacturers, Nestle faced a decline in the prices of its products in Europe in a context of intense competition among supermarkets, in addition to low commodity prices.

About the company:

Nestle is a Swiss company, the world's largest food manufacturer. Nestle specializiruetsya in the production of pet food, pharmaceuticals and cosmetics. The main office is located in the Swiss town of Vevey.

www.nestle.ru