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  • consumers kept buying packaged food through lockdowns, helping food giant Nestle outshine its rivals.

  • Last year, the company shed underperforming businesses and invested in growth areas such as plant based food.

  • It also saw strong demand for pet food and health products in the Americas.

  • On Thursday, Nestle said it wanted to boost organic sales growth towards a mid single digit rate this year.

  • Full year organic sales, which strip out currency effects and acquisitions, grew 3.6% in 2020.

  • That was ahead of Nestle Zone guidance.

  • It also topped rival Unilever's 1.9% underlying sales growth.

  • France's Danone is due to post its 2020 results on Friday, with analysts expecting negative like for like growth.

  • Net profit of Nestle fell 3% to $13.5 billion also beating expectations.

  • The year ago period had benefited from a one off gain linked to the sale of its skin health business.

consumers kept buying packaged food through lockdowns, helping food giant Nestle outshine its rivals.

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B2 nestle growth organic health packaged plant based

Nestle outshines peers thanks to pet food, health products

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    林宜悉 posted on 2021/02/19
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