This is a bit odd…. I could only read 3 paragraphs in both
your emails until I clicked reply to respond when the whole article appeared…below. Anyway…aren’t they shameless
with their aggressive marketing of a “second rate” product. Amy From:
[EMAIL PROTECTED]
[mailto:[EMAIL PROTECTED] On
Behalf Of Julie Clarke Nestle
increases first-half profits
Nestle
SA, the world's biggest food and drink company, has reported an 11 per cent
rise in first-half net profit thanks to cost cutting and internal growth
despite higher raw material prices. The
company, which has brands such as Nescafe, Perrier and Dreyer's, said net
profit increased to 4.15 billion Swiss francs ($A4.44 billion) from 3.73
billion francs in 2005, exceeding analyst expectations of about 4.09 billion
francs. Nestle,
which does not report quarterly earnings figures, said slow demand in Europe
was widely offset by a strong performance in emerging markets and the
"During
the first half of 2006 the group delivered excellent levels of growth and profit
margin," said Chairman and Chief Executive Peter Brabeck-Letmathe.
"This was made possible by the strong performance of our food, beverage
and nutrition business which generated 6 per cent organic growth." "Organic
growth" is one of the company's main performance yardsticks. This
measure, which includes price increases but not the effects of acquisitions,
rose to 6.4 per cent, compared with 5.6 per cent in 2005. Analysts had
expected 6.3 per cent. Nestle shares
closed up 2.3 per cent at 417.75 francs on the "It's
the first time in the past few quarters Nestle has clearly surpassed consensus
estimates in terms of organic growth and operating margin," Zuercher
Kantonalbank analyst Patrik Schwendimann said. The
company reiterated that it aims to improve the operating profit margin for the
full year at constant currencies. It slightly upgraded its organic growth
estimate for the full year, saying it now expects that figure to be on the higher
end of its long-standing 5 per cent to 6 per cent target range. Sales
grew 11 per cent to 47.14 billion francs from 42.47 billion francs, the
company said. Analysts had expected 47.05 billion francs. Earnings
before interest and taxes rose 14.5 per cent to 6.05 billion francs from 5.29
billion francs. The
company is considering another share buyback after the current 3 billion franc
program, which is almost finished, Chief Financial Officer Paul Polman said in
a conference call. "If
nothing extraordinary happens, there is no reason why we couldn't continue
with buybacks," he said. Polman
said that Nestle was not looking at major acquisitions at the moment. He said
the company will pay more than 1 billion francs later this year for several
small-sized acquisitions that were arranged in the last six months. Included
is the purchase of the US-based weight-management company Jenny Craig for
around $US600 million. Polman
said it will take time to get baby milk sales in China back to the previous
level after the collapse that followed Nestle's recall last year because the
product exceeded government limits on iodine content. |
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- [ozmidwifery] Nestle - take note of the last line - Julie Clarke