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May, 5, 2016

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Nestle reports sales drop 5.1% in first quarter, blames strong franc

ZURICH--The world's leading food industry group Nestle saw its sales plunge 5.1 percent in the first quarter, it said on Tuesday, blaming the effect of exchange rates and strength of the Swiss franc.

During the first three months of the year, the maker of Nespresso capsules and baby food and many other products, said it had taken 20.8 billion Swiss francs (US$23.6 billion, 17.1 billion euros) in sales.

 

 

 

 

 

 

 

 

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