Nestle expects slower growth this year after 2021 beats expectations

ZURICH: Food group Nestle said on Thursday it expected underlying sales to rise around 5% and a broadly stable margin this year after strong demand for coffee and pet food, as well as price hikes, helped growth accelerate ahead of expectations in the fourth quarter.

Underlying or organic sales, which strip out currency swings and acquisitions, rose 7.5% last year, ahead of a 7.1% forecast in a company-compiled poll of analysts, thanks to a 7.2% rise in the fourth quarter, the maker of Nescafe instant coffee said in a statement.