Eye on the target

23 October 2003

Unlike rival Unilever, the Swiss foods group is on track to hit its 56% annual growth target. But Nestle is relying on just a couple of key units for growth. Nestle would do well to inject some innovation into its brands.

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Nestle reported that organic growth sales rose by 5.4% in the first nine months of 2003. It reported group sales of SFr64.6bn. The Swiss company's bestperforming units were beverages, which showed a growth rate of 5.7%, and its pharmaceutical products, which showed an increase of 6.8%.

Unilever reported this week that growth of its leading brands is now expected to be below 3%. The company had said it planned to reach a growth rate of 5%6% in 2003. In June it cut its forecast to 4% sales growth for its key brands.

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