Nestle raises full-year guidance after third quarter sales beats poll

Topics nestle | Q3 results


ZURICH (Reuters) - Nestle raised its guidance for organic sales growth to around 3% for 2020 on Wednesday after posting better-than-expected growth of 4.9% for the third quarter driven by strong demand for pet food and health products.

The world's biggest food group has weathered the COVID-19 pandemic better than some of its peers thanks to its broad portfolio, with resilient pet food and health businesses making up for a slump in food sales to restaurants and cafes. Demand for foods and drinks consumed at home, well-known brands.

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