Nestle profit up 18.4 percent in first half of 2007
16/8/2007 16:36
Swiss food multinational Nestle yesterday reported a first-half net profit
of 4.92 billion Swiss francs (about US$4.05 billion), up 18.4 percent on
comparable figures from last year. The company, which is based at Vevey on
Lake Geneva, said its sales were up by 8.4 percent to 51.1 billion Swiss francs.
It added that it was likely to beat its own forecasts for the full
year. "These results are due to the strong performance of the food and
beverages business and Nestle's ongoing transformation into the world's leading
nutrition, health and wellness company," Nestle CEO and chairman Peter Brabeck
said in a statement. "In spite of increasing input cost pressures, I am
confident of Nestle achieving above-target organic growth for 2007, as well as a
sustainable margin improvement," Brabeck said.
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