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Growth formula eludes under-fire Nestle, L'Oreal stake unchanged

Reuters  |  VEVEY, Switzerland 

By Silke KoltrowitzVEVEY, Switzerland (Reuters) - Weakness in North America led Nestle to forecast only modest organic sales growth this year after its slowest gain in at least two decades, giving fuel to investor Daniel Loeb's campaign to overhaul strategy at the world's biggest food group.Nestle also said it had no intention to increase its 23 percent stake in French cosmetics company L'Oreal but stressed it remained committed to the group.Shares in the maker of KitKat chocolate bars and Nescafe coffee hit a 10-month low after it said organic growth, which excludes acquisitions and currency ...

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First Published: Thu, February 15 2018. 19:14 IST