Nestle profits up
Vevey, Vaud, Switzerland (GenevaLunch) - Nestlé has announced net profits of CHF18 billion, a 69.4% increase over 2007. Consoliated sales for the year were CHF 110b, of which CHF102b were in the food and beverage arm of the business. The company says its very strong growth has allowed it to continue its three-year CHF25 billion share buyback programme.
The multinational’s results were also helped by the CHF 9.2 billion profit it made from the sale of 24.8% of Alcon to Novartis in 2008.
