Nestlé, the world’s largest food and drinks company, has reported sales of CHF 92.2bn (€75.5bn) for 2013, an increase of 2.7% from the previous year. However, net profit fell in 2013 by 2.1% to CHF 10bn (€8.2bn).
The company has blamed the decrease in profits on the costs of portfolio restructuring and currency impact. Earnings per share were down 2.2% as a result of the decrease in profits to CHF 3.14 (€2.57).
Overall, Nestlé recorded organic growth of 0.8% in Europe, 5.3% in the Americas and 5.6% organic growth in Asia, Oceania and Africa. The standout performance came from Nestlé’s infant nutrition division which recorded organic growth of 8.2% and sales of CHF 9.8bn (€8bn).
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Nestlé CEO Paul Bulcke has said he expects the coming year to be just as challenging as 2013 with continued weak prices in Europe and slowed growth in emerging markets.
Earlier this year Nestlé sold its premium sports nutrition business under the PowerBar and Musashi brands to the US group Post Holdings. This comes as the world’s largest food company is reviewing its portfolio of brands to try improve profitability.
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Nestlé, the world’s largest food and drinks company, has reported sales of CHF 92.2bn (€75.5bn) for 2013, an increase of 2.7% from the previous year. However, net profit fell in 2013 by 2.1% to CHF 10bn (€8.2bn).
The company has blamed the decrease in profits on the costs of portfolio restructuring and currency impact. Earnings per share were down 2.2% as a result of the decrease in profits to CHF 3.14 (€2.57).
Overall, Nestlé recorded organic growth of 0.8% in Europe, 5.3% in the Americas and 5.6% organic growth in Asia, Oceania and Africa. The standout performance came from Nestlé’s infant nutrition division which recorded organic growth of 8.2% and sales of CHF 9.8bn (€8bn).
Nestlé CEO Paul Bulcke has said he expects the coming year to be just as challenging as 2013 with continued weak prices in Europe and slowed growth in emerging markets.
Earlier this year Nestlé sold its premium sports nutrition business under the PowerBar and Musashi brands to the US group Post Holdings. This comes as the world’s largest food company is reviewing its portfolio of brands to try improve profitability.
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