herald

Tuesday 14 August 2018

Nestle profits in Alcon disposal

NESTLE, the world's biggest food company, has posted net profits for 2010 of 34.2bn francs (€26.3bn).

The figures were strongly boosted by the company's disposal of stakes in eyecare group Alcon.

The sale of Alcon shares to Swiss health giant Novartis contributed 24.5bn francs to Nestle's figures.

The net profits reached more than three times the 10.4bn francs it earned in 2009.

The Swiss-based group also issued a positive outlook for 2011, saying that it was starting the year with "continued momentum, well placed to face uncertainties ahead, including volatile raw material prices".

Sales generated by the food giant reached 104.6 bn francs, in line with analysts' expectations.

"In 2010, we delivered another year of strong top and bottom line growth, outperforming the market," said Paul Bulcke, Nestle chief executive officer.

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