Nestle makes $11.55 billion profit in 2012

VEVEY, Switzerland (AP) ? Nestle SA, the world's biggest food and drinks maker, overcame tough global economic conditions to post a full-year net profit Thursday of 10.6 billion Swiss francs ($11.55 billion) for 2012, but predicted another challenging year ahead.

The maker of Nescafe, Perrier, Jenny Craig, Haagen Daz, Carnation and Perrier reported broad-based growth across all categories and regions with sales reaching 92.2 billion francs ($100.5 billion), up from 83.6 billion francs ($91.11 billion) in 2011. But the Vevey-based company said in a statement that "the environment looks to be every bit as challenging in 2013 as it was in 2012."

The results compare with a full-year 2011 profit of 9.5 billion Swiss francs ($10.35 billion). With 330,000 employees worldwide and 461 factories in 83 countries, Nestle is a major buyer of food commodities such as wheat, sugar, milk and coffee and its results are a good indicator of consumer demand and the health of the global economy as a whole.

Chief Executive Paul Bulcke said Thursday that all of the company's businesses, both in developed and emerging markets, contributed to the overall 5.9 percent organic growth. we expect to deliver the Nestle model

"Despite the many challenges 2013 will no doubt bring, of organic growth between 5 percent and 6 percent as well as an improved margin and underlying earnings per share in constant currencies," he added.

Shares in Nestle closed at 64.50 francs ($70.31) Wednesday on the Zurich exchange.

Overall sales for 2012 ? which rose 10.2 percent ? showed the strongest growth in Asia and Africa and product-wise with powdered and liquid beverages and pet care. The weakest growth was in Europe ? up just 1.8 percent compared with 5.2 percent in the Americas and higher everywhere else ? and with products such as prepared dishes and cooking aids.

Nestle said it was nevertheless continuing to grow in all regions of the world, with 2.4 percent growth in Europe, 5.9 percent in the Americas and 10.3 percent in Asia, Oceania and Africa.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2013-02-14-Switzerland-Earns-Nestle/id-a9d55a40586f4ff6abb1d4f5bc06d09a

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