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kongtl
118 posts
Posted by kongtl > 2012-02-16 17:41 | Report Abuse
Hi Guys, BAD news for some. FYI, NESTLE is my no.1 Love
Nestle Profit Falls On Higher Costs, Unfavorable Currency -
(RTTNews.com) - Swiss food and nutrition products giant Nestl�© S.A. (NSRGY.PK) reported Thursday a sharp decline in profit for the full year 2011, as higher input costs and unfavorable foreign exchange impacted its results. In view of the continuing economic uncertainties and volatility, the company expects 2012 to be a difficult year, but anticipates organic sales growth of up to 6 percent.
Nestl�© said it continued to grow in all regions across the world in 2011, with 5 percent organic growth in Europe, 6.4 percent in the Americas and 13.1 percent in Asia, Oceania and Africa. The company's business grew 13.3 percent in emerging markets and 4.3 percent in developed markets.
Paul Bulcke, CEO of the company said, "We delivered good performance, top and bottom line, in both emerging and developed markets in 2011. It was a challenging year, and we do not expect 2012 to be any easier."
The world's largest food maker said its profit attributable to shareholders dropped to 9.49 billion Swiss francs (about $10.24 billion) or 2.96 francs per share in 2011 from 34.23 billion francs or 10.12 francs per share in the previous year. The company said it has restated its prior-year figures.
Excluding exceptional items, underlying earnings per share grew 7.8 percent in constant currencies.
Sales declined to 83.64 billion francs from 93.02 billion francs in the prior year. Organic sales, which strip out foreign exchange fluctuations and the impact of acquisitions/divestitures, grew 7.5 percent in the year. The company attributed this to real internal growth of 3.9 percent and pricing impact of 3.6 percent.
Foreign exchange had a negative impact of 13.4 percent during the year. Excluding the impact of the sale of Alcon, sales were down by 4.8 percent, the company noted. Nestle also saw its margin improve 60 basis points to 15 percent.
The board will propose a dividend of 1.95 francs per share, payable as from April 26.
Bulcke added that the company is "well positioned in 2012 to deliver the Nestl�© Model of organic growth between 5% and 6% as well as an improved margin and underlying earnings per share in constant currencies."
In Zurich, Nestl�© shares are currently trading at 54.45 francs, up 0.20 francs or 0.36 percent.
For comments and feedback: contact editorial@rttnews.com
http://www.rttnews.com
16/02/2012 17:37