Nestlé full-year net income up 8.1%
Swiss food company Nestlé reported that its 2011 full year net income from continuing operations, which excludes the impact of the sale of eye care company Alcon, increased 8.1% to CHF9.5bn ($10.35bn).
The net income was affected by the strength of the Swiss currency, which lowered the value of sales generated in other countries.
The company's net sales totaled CHF83.6bn ($90.31bn), down from CHF104.6bn ($113m) a year ago, with foreign exchange rate negatively affecting 13.4% of the sales and divestitures/acquisitions affecting 4.2%.
However, organic sales, which exclude foreign exchange fluctuations and the impact of acquisitions/divestitures increased 7.5%.
Nestlé CEO Paul Bulcke said the company 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," Bulcke added.
According to Nestlé, it expects to post an organic growth between 5% and 6% in 2012, as well as an improved margin and recurring earnings per share at constant exchange rates.
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