Nestle, the largest industrialized world food company, lowe loan credit insurance red its outlook for the year on Friday, as the pasta recall Maggi in India affected sales and discounts on your drive to skin health in the United States weighed on profits Swiss company.
Sales fell 2.1% to 64.9 billion Swiss francs ($ 68 billion) in the nine months to September, be loan credit insurance low the average analyst expectation of 65.9 billion Swiss francs, according to Reuters Research.
Organic growth, adjusted for currency effects, acquisitions and divestments, slowed to 4.2% in the period, compared to 4.5% in the first half, behind the 5% target for 2015.
The company cut its outlook for the year about 4.5% below their long-term projections which showed growth between 5% and 6%.
Chief Executive Officer Paul Bulcke said: "After a good perfo loan credit insurance rmance in the first half of the year were affected in the third quarter by extraordinary events, such as the issue of Maggi noodles in India and discounts at Nestlé Skin Health."
The noodles Maggi was the target of a recall in India for security concerns.
In the US, frozen food sales began to improve after a resumption of Lean Cuisine brand, but this contrasted with slowing sales in China, Bulcke said.
