News Column

Nestle profit falls on stronger Swiss franc

August 6, 2014



FRANKFURT, Germany (AP) Nestle SA saw its sales and profits fall in the first half of the year due largely to a stronger Swiss franc.

The maker of the Haagen-Dazs, Stouffer's and Nescafe brands said Thursday its performance had been "resilient" in a global economy where emerging-market growth has slowed and developed markets face deflationary pressures and weak consumer confidence. The company saw some higher prices for raw materials, particularly in milk products.

The Vevey, Switzerland-based company reaffirmed its outlook and announced an 8 billion Swiss franc ($8.8 billion) share buyback to be completed by the end of 2015.

Sales fell 4.8 percent to 42.981 billion francs ($47.279 billion) from the same period a year ago. Net profit fell 9.4 percent to 4.634 billion francs.


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Source: Associated Press


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