Nestle profit up 6% in first half

by Staff
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VEVEY, SWITZERLAND — Driven by growth in Food and Beverages, during the first half of 2008 Nestle had profit of 5,214 million Swiss francs ($4,907 million), up 6% from the same period of the previous year. Sales were 53,066 million Swiss francs ($49,931 million), up 4% from the same period of the previous year.

Food and Beverages had 9% organic growth and 3% real internal growth. Zone Americas had sales of 15,132 million Swiss francs ($14,239 million) with organic growth of 11%. Nestle Waters had sales of 4,954 million Swiss francs ($4,663 million) with organic growth down 1%, and Nestle Nutrition had sales of 5,176 million Swiss francs ($4,873) with organic growth up 11%.

"These figures build on a strong momentum gathered from last year’s milestone results," said Paul Bulcke, chief executive officer. "Nestle’s drive to become the world’s recognized leader in nutrition, health and wellness, its strong billionaire brands and its focus on speed and disciple in execution have allowed the company to further accelerate its performance under difficult conditions. I am therefore confident that 2008 will be another year of delivering the Nestle model with organic growth of at least the 2007 level and a further improvement in EBIT margins. Our Foods and Beverages business will be the key driver of this profitable growth."

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