Nestlé Expecting Better Second Half To Keep Third Point At Bay
Food giant Nestlé said it expects an improvement in sales and profitability in the second half of 2018 as it seeks to assuage activist shareholder Third Point, with its infant formula business helping second-quarter results.
Packaged food groups have seen sales slow as health-conscious consumers switch to fresh, local foods.
Nestlé has also come under pressure from New York-based hedge fund Third Point, run by investor Daniel Loeb, asking for a bolder and faster overhaul at the world's biggest food group.
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