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Updated: Thu, 13 Feb 2014 09:29:56 GMT | By The Associated Press, thecanadianpress.com

Nestle says 2014 will be another challenging year

GENEVA - Nestle, the world's biggest food and drink company, says it expects 2014 to be just as challenging as last year amid weaker growth in emerging markets along with falling prices and deflationary pressure in Europe.


Nestle says 2014 will be another challenging year

FILE - In this Feb. 14, 2013 file picture the Nestle logo is photographed at the Nestle headquarter in Vevey, Switzerland, Nestle, the world's biggest food and drink company, says it expects 2014 to be just as challenging as last year amid weaker growth in emerging markets along with falling prices and deflationary pressure in Europe. The Vevey, Switzerland-based company says it expects improvement in the second half and about 5 percent organic sales growth for 2014, which does not reflect acquisitions and currency fluctuations. Nestle's statement Thursday Feb. 13, 2014 said 2013 net profit fell to 10 billion Swiss francs (US $11.1 billion), down from 10.6 billion francs in 2012. (AP Photo/Keystone,Laurent Gillieron)

GENEVA - Nestle, the world's biggest food and drink company, says it expects 2014 to be just as challenging as last year amid weaker growth in emerging markets along with falling prices and deflationary pressure in Europe.

The Vevey, Switzerland-based company says it expects improvement in the second half and about 5 per cent organic sales growth for 2014, which does not reflect acquisitions and currency fluctuations.

Nestle's statement Thursday said 2013 net profit fell to 10 billion Swiss francs ($11.1 billion), down from 10.6 billion francs in 2012.

The results from the maker of Nescafe, Perrier, Jenny Craig and Haagen Dazs compare with full-year 2011 profit of 9.5 billion Swiss francs.

CEO Paul Bulcke said the "macro-environment in 2013 was one of soft growth" and 2014 will likely be just as challenging.

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