Nestle digests sweet profits


The world's largest food and beverage company, Nestle, has announced healthy profits of 6.1 billion Swiss francs (£2.6 billion) for the last six months.

Today's half-year results from the Vevey-based firm reveal that earnings have increased by almost 15 per cent compared to the corresponding period last year.

Total sales were up 11 per cent to 47.1 billion Swiss francs (£20.2 billion), which Nestle has attributed to a stronger than expected organic growth of 6.4 per cent, while overall business growth stands at 4.8 per cent.

Peter Brabeck-Letmathe, chairman and executive officer at the company, described today's results as "excellent", predicting that Nestle would go on to achieve higher than expected organic growth during the remainder of the year.

"The outstanding first-half results demonstrate that the Nestle model of combining strong top-line growth with improved operational performance enhances value for our shareholders," he said.

Mr Brabeck-Letmathe explained that "tough economic conditions" had only been overcome by the group's own internal efficiency and working capital discipline.

On a global basis, sales in North America and South America rose the fastest at 8.2 per cent, although its European divisions experienced their strongest growth for more than four years.

Bookmark with:
Bookmark with: Digg Digg Bookmark with: Delicious Bookmark with: Reddit Reddit Bookmark with: StumbleUpon StumbleUpon Bookmark with: Google Google Bookmark with: Technorati Technorati Bookmark with: Netvouz Netvouz

Latest News:

Search News
News Front Page
Accountancy / Tax
Advertising / PR
Armed Forces
Aviation / Aerospace
Banking / Finance
Charities / Voluntary
Childcare / Youth
Construction / Property
Customer Services
Education / Training / Teaching
Emergency Services
Engineering / Electronics
Entertainment / TV / Theatre
Graduate Roles
HR / Recruitment
Health / Beauty
Hotel / Catering / Restaurants
IT / Internet
Insurance / Pensions
International / Overseas
Management / Business
Manufacturing / Industry
Media / New Media / Creative
Medical / Healthcare
Pharmaceutical Industry
Public Sector
Retail / Wholesale
Sales / Purchasing / Marketing
Science / Technology
Secretarial / PA / Admin
Skilled / Semi-skilled Manual
Transport / Logistics
Travel / Tourism / Leisure