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Food giant Nestle lowered its full-year outlook on Friday after setbacks from a Maggi noodle recall in India and a rebate adjustment in its Skin Health division in the third quarter.
Underlying "organic" growth — adjusted for currency swings, acquisitions and divestitures — slowed to 4.2 per cent in the first nine months from 4.5 per cent in the half-year, sliding further behind the company's 5 per cent organic growth target for 2015.
The company cut this 2015 outlook to around 4.5 per cent, below its long-term model calling for 5 to 6 per cent growth.
The world's largest packaged food company had sales of 64.9 billion Swiss francs ($68.23 billion) in the nine months to September, missing analysts' forecast of 65.9 billion francs in a Reuters poll.
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