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Nestlé: nine-month sales 'in line with expectations.'

(CercleFinance.com) - Nestlé has said sales for the first nine months of the year are in line with its own expectations, with the group posting organic growth of 2.

In all, the Swiss food giant reported nine-month sales that fell 0.4% to 65.3 billion Swiss francs, compared to 65.5 billion Swiss francs in the same period a year ago.

Organic growth, which strips out currency effects and divestments and acquisitions, was 0.8% in developed markets and 5.1% in emerging markets.

In particular, organic growth reached 5.3% in Asia, Oceania and sub-Saharan Africa, Nestlé said.

Chief Executive Officer Mark Schneider explained that the group still benefits from volume growth, but that pricing remains soft.

The group now expects full-year organic growth to be around the same level as over the first nine months, with its trading operating profit margin expected to decrease by 40-60 basis points.

"Organic growth remains in low single digits," analysts at Liberum commented after these figures, adding that the share's valuation remains full.

The share was down 0.5 percent at 84.3 Swiss francs this morning in Zurich.

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