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Nestle sets formal margin goal, confirms growth target

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Nestle sets formal margin goal, confirms growth target

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ZURICH (Reuters) – Food giant Nestle <NESN.S> on Tuesday set a formal margin target and confirmed it wants to return to mid-single-digit organic sales growth by 2020. “The company will detail how it will reach its mid-single digit organic growth target by 2020, and will announce an underlying trading operating profit margin target of 17.5-18.5 percent by 2020,” the Swiss maker of KitKat chocolate bars and Nespresso portioned coffee said ahead of a highly anticipated investor seminar, the first time its new chief executive will lay out his strategy for Europe’s largest company. Investors are looking for proof that Nestle, the world’s largest packaged food company, can improve performance when the sector is battling a slew of upstart brands and changing consumer tastes and habits.

(Reporting by Silke Koltrowitz; Editing by Michael Shields)
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