Nestle said its full-year’s results would fall short of previous expectations after a noodle scandal in India and weak demand in China weighed on its third-quarter revenues.
Sales fell 2.1pc to CHF64.9bn at the Swiss company in the nine months to September, despite organic growth of 2pc, hurt by poor exchange rates and the recall of Maggi noodles.
Nestle’s popular product Maggi was removed from shelves in India earlier this year after government tests unearthed high levels of lead in the food.
“On the whole, organic growth fell short of our expectations and therefore we project organic growth of around 4.5pc for the full year.”
Nestlé’s brands include KitKat, Smarties and Nespresso
Nestlé’s Water division, which includes Perrier, S. Pellegrino and Buxton, saw sales increase by 3.6pc to 5.9bn Swiss francs on rising demand for healthy beverages.
Nestlé said it was still in advanced discussions with R&R, which makes ice cream versions of Cadbury and Nestlé chocolates, to establish a joint venture in ice cream and other frozen foods.
