Nestle looks to new food lines as sales growth slows

Nestle, the world’s largest packaged foods maker, is counting on new products and price increases in the second half of the year to meet its full-year sales growth target after a weaker-than-expected first half, the company has said.

It has missed its long-term target of 5% to 6% annual sales growth for three years but it said it still expects organic growth this year will be in line with the 4.2% seen last year.

The shares which were up 1.7% yesterday, have gained 7% this year.