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Nestle 9 month sales slip

GENEVA, Oct 22 – Global food giant Nestle said Thursday its nine-month sales slipped 2.3 percent to 79.5 billion francs (52.6 billion euros, 78.9 billion dollars), hurt by a strong Swiss franc.

The currency impact took 5.2 percent off its sales for the first nine months of the year, it said, while divestitures added an impact of 0.6 percent.

Organic growth — which excludes effects from acquisitions and currency fluctuations — stood at 3.6 percent for the period, it added.

Paul Bulcke, chief executive of Nestle confirmed the group\’s outlook, saying that he expected that "volume-driven organic growth will further accelerate."

The food giant posted full year profits of 18 billion francs in 2008.

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