Thursday, August 18, 2016

Nestle H1 Net Profit Declines, Sales Up; Backs FY16 View

Swiss foods giant Nestle SA reported Thursday weak net profit in its first half due to deferred tax adjustment, while trading operating profit improved on higher sales. Further, the company confirmed its fiscal 2016 earnings guidance. Paul Bulcke, Nestl‚ CEO, said, "The first half of 2016 was in line with our expectation with growth almost entirely driven by volume and product mix..."

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