Nestle raises full-year guidance after third-quarter sales beats poll

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The world’s biggest food group has weathered the COVID-19 pandemic better than some of its peers thanks to its broad portfolio, with resilient pet food and health businesses making up for a slump in food sales to restaurants and cafes.

For the first nine months of the year, the maker of Nescafe coffee and KitKat chocolate said its organic sales grew by 3.5%, compared to analysts’ average estimate for 2.8%, according to a company-supplied consensus.