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Foreign Exchange Issues Buffet Nestlé

August 7, 2014: 12:00 AM EST
“Unprecedented” foreign exchange issues have had a major impact on all levels of Nestlé’s operations, according to the company’s chief financial officer. Wan Ling Martello said the foreign exchange problems have hurt sales, profits, cash flow and earnings per share. Martello also noted the company is struggling with low prices and poor consumer spending in developed markets, as well as slow growth in emerging markets. Despite the problems, the company said that it planned to complete a buy-back of shares worth £5.2 billion by the end of 2015 as a show of confidence.
Rod Addy, "‘Unprecedented’ foreign exchange storm hits Nestlé", FOODmanufacture.co.uk, August 07, 2014, © William Reed Business Media Ltd
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