Food group Nestle confirmed it wants to grow sales by around 3% this year after it reported improved trading in North America and infant nutrition had pushed up underlying sales in the third quarter.
Packaged food companies are struggling to adjust to consumers' growing appetite for fresh, local foods.
Nestle and its peers are trying to boost performance by cutting costs, shedding underperformers and diversifying into premium and health foods.
"We are starting to see improved momentum in North America and in our infant nutrition category globally. Our business in China continued to grow at a mid single-digit pace," Nestle's chief executive Mark Schneider said today.
Nestle's organic sales, which strip out currency swings and acquisitions, rose 2.9% in the third quarter, in line with forecasts in a Reuters poll. They were up 2.8% in the first nine months.
The company's rival Danone said yesterday that slacker demand for baby food in China and a consumer boycott in Morocco slowed third-quarter sales growth.
