Vevey, Switzerland (GenevaLunch) – Nestlé’s financial results for 2009 were broadly positive in a difficult year, prompting its CEO, Paul Bulcke, to say “we were able to grow substantially faster than our industry.” The giant food company increased profit margins, reduced costs, and invested more in marketing and research & development in 2009. Group sales reached CHF107.6 billion, while net profit profit was CHF10.4bn. Bulcke warned that net profits could not be directly compared to 2008 because of the one-off sale of almost one quarter of Alcon to Novartis, which netted an exceptional CHF9.2bn in 2008.
Earnings per share were CHF2.92 this past year, and the company proposes a dividend of CHF1.60 per share, up 14.3 percent. The company also announced that Jean-Pierre Roth, formerly chairman of the Swiss National Bank, would join the board of directors.
Links to other sites: Nestlé press release, NZZ, Le Temps
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News story, GenevaLunch, 21 February 2010.
Filed under: Business
Tags: 2009 annual results, Jean-Pierre Roth, Nestlé, Paul Bulcke