Nestle profits jump. Wonder if George gets a bonus?

Nestle 2010 profits jump to 35.7 billion dollars

Feb 17, 2011

Geneva - Nestle SA saw its 2010 net profit triple to 34.2 billion Swiss francs (35.7 billion dollars), up from 10.43 billion in the previous year, according to annual results released Thursday.

Much of the profit was from 24.5 billion francs made on the sale of the company's holding in Alcon, an eyecare company.

Group sales increased to 109.7 billion francs, up nearly 2 per cent on 2009, largely on positive numbers in emerging markets and Europe.

Nespresso, the instant coffee brand advertised by George Clooney, passed the 3 billion francs sales-mark for the first time.

Nestle, based in Vevey, Switzerland, is the world's largest food company by sales.

The company warned of volatile commodity prices this year, but Nestle said it was 'well placed' to meet its organic growth targets.

The company would raise its dividend payout by 15.6 per cent, to 1.85 francs, but many investors were looking for a share buyback.

'We remain disappointed that the company did not announce a buyback, considering the high cash flow generation,' said Jean-Philippe Bertschy at Vontobel Bank.

From M&C

lucy wrote:That's what happens when you hero worship?

lucy wrote:Didn't mean you,I was ref. a comment posted on a very crazy but interesting thread on IMDb.