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Nestle reports strong performance in 2008

(Xinhua)
Updated: 2009-02-20 09:15

GENEVA -- The net profit of Nestle SA, the world's largest food and beverage company, rose 69.4 percent to 18 billion Swiss francs (about $15.3 billion) in 2008, the company announced on Thursday.

Nestle Chief Executive Paul Bulcke speaks during a press conference of the food and drinks giant Nestle in Vevey, Switzerland, February 19, 2009. [Agencies]

Full-year sales reached 109.9 billion Swiss francs (about $93.6 billion), a rise of 2.2 percent compared with 2007, said the company, which was based in Vevey, Switzerland.

The group's food and beverages business, with sales of 102.4 billion Swiss francs (about $87.2 billion), was the main contributor to growth.

"Nestle's 2008 performance reflects its ability to achieve a high level of organic growth ... even in difficult times," said Paul Bulcke, CEO of Nestle, in a statement.

"We believe that the Group will once again be one of the industry's fastest growing companies in 2009, in line with the long-standing Nestle model," he said.

Nestle said its performance in major emerging markets last year was very strong, and good results were also expected in 2009, despite the global economic crisis.

The company's total sales in China reached 2.2 billion Swiss francs (about $1.9 billion) in 2008, a rise of 18 percent over 2007.