Despite Food Price Pressure, Nestle Posts Healthy Half-Year Sales Growth

Swiss food giant Nestlé said it benefited from a 4.7 percent hike in “organic” sales – net of currency fluctuations and acquisitions – for the first half of the year, outpacing European rivals Danone and Unilever. But the company tempered the good news with caution, noting that it still faces pricing pressure on its foods. Sales rose in all three of Nestlé's geographic regions, though market conditions in Europe remained tough. Danone and Unilever posted sluggish sales growth numbers, blaming weak economic conditions in Brazil and the U.S. A massive food scare in Asia also depressed sales growth for the firms.