The world’s largest food maker, Nestle, has unveiled healthy results for the first-half of the year. The company said it kept pace with its rival Danone and outperformed Unilever and Cadbury, largely due to strong performances in its core food, beverage and nutrition businesses.
The Swiss firm’s sales reached 30 billion euros, up by 11% and net profit jumped 11.4% to just over 2.6 billion euros. Nestle generated faster sales in Asia and the US while European revenue grew at the quickest pace since 2002 as the region’s economy picked up.
Like its rivals, Nestle was hit by higher raw materials and energy costs but said it managed to limit the impact through hedging and efficiency programmes as well as the advantages of economies of scale. It also raised prices by 1.6% in the first six months and a stronger US dollar against the Swiss franc helped boost earnings.