Nestlé records strong set of figures in 2010
The world’s largest food concern, Nestlé, has reported that it grew in all its regions and business units last year and is confident after a good start to 2011.
The company, which has its headquarters at Vevey in western Switzerland, said on Thursday it had sales of SFr107.9 billion ($114.3 billion), with organic growth of 6.2 per cent.
Net profit was SFr34.2 billion which took into consideration the sale of its remaining stake in eyecare group Alcon to Novartis of Basel.
During the year Nestlé spent more than SFr5 billion on acquisitions, including Kraft’s frozen pizza business.
The group also completed a SFr25 billion three-year share buy-back programme and launched a new SFr10 billion programme.
At the annual shareholders meeting in April, the board of directors will propose a dividend increase from SFr1.60 to SFr1.85, representing a rise of 15.6 per cent.
Nestlé chief executive Paul Bulcke was upbeat about the prospects for this year.
“We are starting 2011 with continued momentum, well placed to face uncertainties ahead, including volatile raw material process,” he commented in a statement.
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