‘Challenging’ half for Nestlé

SWITZERLAND – Food giant Nestle admitted that the first six months of 2003 have been ‘challenging’ with the publication of its results on Wednesday.

Growth in several of the group’s major sectors was slow, with the chocolate and confectionery and pet care divisions experiencing poor results.

Nestle’s milk products, nutrition and ice cream division saw sales rise 1% on the first six months of 2002 to CHF 11.3 billion (€7.33 billion).

The company said that growth was held back by difficult trading conditions and the strong position of the Swiss franc.

In a statement, Nestle chief executive Peter Brabeck said: “We are on the right track. We are also looking forward to a somewhat more favourable trading environment for the second half of the year.” He added that growth of between five and 6% is “sustainable for the full year”.