Nestle posts slightly slower sales growth, revamps waters business

This post was originally published on this site

ZURICH (Reuters) – Food group Nestle announced a new share buyback program of up to 20 billion Swiss francs ($20.13 billion) and changes to its waters business on Thursday after organic sales growth slowed slightly to 3.7% in the third quarter, from 3.9% in the previous quarter.

Packaged food makers are branching out into new areas like plant-based meat alternatives or products made from all natural ingredients to boost growth in an otherwise sluggish market.

The maker of KitKat chocolate bars, Maggi noodles and vegan burgers also appointed Sanjay Bahadur, currently head of acquisitions and business development, to head a new Group Strategy and Business Development function, it said in a statement.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.