Nestle serves up profits rise

Foods group Nestle said today it had achieved a strong first half of the year after overcoming rising cost pressures and tough trading conditions.

The group – best known for Nescafe coffee and Kit-Kat chocolate bars – met its own expectations with net profits of 3.68bn Swiss francs (€2.4bn), an increase of 32.4% on the figure for the January to June period last year.

Chairman Peter Brabeck-Letmathe said the half-year results demonstrated “the strength and depth” of Nestle’s brand portfolio.

Among its other products, Nestle produces Shredded Wheat cereal, Buitoni pasta and Vittel mineral water.

The company achieved worldwide sales growth of 5.2% in the period, of which 1.8% of the improvement was due to price hikes.

Nestle is based in Vevey in western Switzerland.