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Nestle, the world’s biggest food company, reported forecast-beating first-quarter sales growth of 7.2%. The news came as emerging market demand and price rises helped offset sluggish growth in the developed world.
Already responsible for over 40% of sales at Nestle, emerging markets grew by 13% in the first quarter, which thrashed the meager 3% growth from developed countries.
Despite the solid first quarter performance, though, Nestle warns that 2012 overall will be difficult, with projected full-year sales growth estimated at 5% to 6%.