The Global Food Giant revealed its third quarter results where it reported that the chocolate sector continued to perform well despite the decline in the growth rate in sugar confectionery, it noted that demand was weak in Russia, but many emerging markets, particularly Turkey, India and Chile, delivered strong growth. The group added that its core chocolate brands gained momentum in the US.

The confectionery sector overall recorded sales of CHF 8.2bn (€5.5bn), with nine month sales up four per cent, reported the company.

The food group said its global sales slipped 2.3 per cent to CHF 79.5bn (€52.6bn), undermined by a strong Swiss franc and overall organic growth - which excludes effects from acquisitions and currency fluctuations - stood at 3.6 per cent for the period.

While releasing the third quarter results today, the company launched its Nestlé Cocoa Plan, which is aimed at supporting cocoa farmers to increase production in order to tackle the hike in global prices.

The group added that it plans to invest CHF 110m (€109m) on initiatives for the cocoa sector over the next 10 years.

You can access to the report from the following link:
http://www.nestle.com/MediaCenter/PressReleases/AllPressReleases/3ThQ2000Sales-20Oct00.htm