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Nestlé announces 2.5 percent rise in first-half profit

(AP) -- Food and drinks giant Nestlé on Friday announced a first-half net profit of SFr2.079 billion ($1.36 billion), up 2.5 percent on the same period last year.

This content was published on September 24, 1999 - 15:17

(AP) -- Food and drinks giant Nestlé on Friday announced a first-half net profit of SFr2.079 billion ($1.36 billion), up 2.5 percent on the same period last year.

In July, the Swiss-based group announced first-half sales of SFr35.3 billion($22 billion), unchanged from the same period last year. Last year's first-half net profit was SFr2.07 billion ($1.35 billion).

The impact of economic downturn in East Europe and Latin America from the second half of last year was offset by Nestlé's "strong position in Asia ... and by further improvements in Western Europe and North America," the group said in a statement.

For the full year, "Nestlé expects a further improvement in both sales and profit, provided that exchange rates do not deteriorate significantly."

In March, it posted a net group profit for last year of SFr4.29 billion (then $3.15 billion).

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