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Nestlé: raises FY 2021 growth target

( - At its trading update, Nestlé said that it now expects organic sales growth of between 6% and 7% (instead of 5% to 6% previously) in 2021, with a recurrent operating margin that it still expects to be around 17.

In the first nine months of the year, the Swiss agri-food giant's sales rose by 2.2% to 63.3 billion Swiss francs, with FX factors and net disposals reducing sales by 2% and 3.3% respectively.

Organic growth reached 7.6%, including real organic growth of 6% and a price effect of 1.6%, driven by momentum in retail, a recovery in sales in out-of-home channels, an increased price effect and gains in market share.

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