Nestle says 9-month sales growth misses poll as Asia slows

VEVEY: Food group Nestle stood by its full-year outlook on Thursday as slowing growth in Asia and continued price erosion in Europe weighed on underlying sales growth in the first nine months of the year.

Sales at Nestle stood at 66.2 billion Swiss francs ($70.29 billion) in the nine months to September, roughly in line with analysts' average estimate of 66.78 billion francs, according to a Reuters poll.

Underlying "organic" growth, which is adjusted for currency swings, acquisitions and divestitures, slowed to 4.5 percent in the period under review from 4.7 percent in the first half and fell short of a 4.7 percent forceast in a Reuters poll.