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. Last Updated: 07/27/2016

Nestle's Sales Increase

VEVEY, Switzerland -- Nestle SA, the world's biggest food company, said Wednesday that sales in the first 10 months of 1999 rose by 2.2 percent to 60.5 billion Swiss francs ($38.9 billion).

The outcome matched the expectations of analysts, who described the numbers as "solid," but foresaw no major stock market reaction. Nestl? opened at 2,913 Swiss francs ($1,867), up from Tuesday's close at 2,893.

Nestl? said that group sales and profit should rise in 1999, forecasting consolidated sales of more than 73 billion Swiss francs. "Profits should grow at a rate corresponding at least to the growth of sales," it said in a statement.