ZURICH, July 26 (Reuters) - Food giant Nestle said it expected organic sales growth of around 3 percent for 2018, narrowing down its guidance, after soild growth in Asia and Europe in the second quarter that might help assuage activist shareholder Third Point.
“As we look towards the second half of 2018, we expect further improvement in our organic revenue growth. Margin improvement is expected to accelerate with further benefits from our efficiency programs and more favorable commodity pricing,” Mark Schneider, the CEO of the maker of KitKat chocolate bars and Nescafe instant coffee said in a statement on Thursday.
Organic sales growth that strips out currency swings and portfolio changes slowed less than expected to 2.6 percent in the second quarter, from 2.8 percent in the first quarter, beating forecasts for 2.2 percent growth in a Reuters poll. (Reporting by Silke Koltrowitz, editing by Emma Thomasson)