Nestle bullish despite profits dip

Swiss food and drink giant Nestle said volatile markets, rising costs and the strength of the Swiss franc dragged down profits during the first half of the year.

The Vevey-based company has posted a half-year profit of 4.7bn francs (€4.51bn) compared with 5.45bn francs (then 5.23) a year ago.

The maker of Nescafe, Jenny Craig and Haagen-Dazs said today that sales during the first six months grew 7.5% in constant currencies.

Chief executive Paul Bulcke said the company expects to achieve its target of 5-6 % organic growth for the full year.