Nestle caution on slowing sales

WHILE the Swiss food and drinks giant Nestle posted a 3.7% rise in its worldwide first half profits, it issued a warning it would not be easy sticking to its sales targets as it tackled slowing markets around the world and the new rush of value-conscious consumers. As the world’s biggest food and drink company by revenue its results serve as an indicator of the entire food industry and consumer demand. The company’s chief financial officer Wan Ling Martello said the company’s prices had been adjusted downwards in many countries to make its products more attractive for cash-strapped consumers.