Nestle 2018 Net Profit Rose on One-Offs
February 14 2019 - 02:02AM
Dow Jones News
By Anthony Shevlin
Nestle SA (NESN.EB) said Thursday that 2018 net profit rose,
boosted by several large one-off items including income from
disposals.
The Swiss food-and-beverage company said net profit was 10.1
billion Swiss francs ($10.03 billion), compared with CHF7.20
billion the previous year.
An analyst consensus provided by Nestle saw net profit at
CHF11.27 billion.
Sales rose 2.1% to CHF91.44 billion and organic sales growth was
3%, fully in line with guidance, the company said. Analysts had
expected sales of CHF91.40 billion and organic-sales growth of
3%.
Nestle's 2.4% organic sales growth in 2017 was its slowest since
the mid-1990s.
The company raised its dividend to CHF2.45 per share compared
with CHF2.35 the year previous, and said it expects to finish its
CHF20 billion share buyback program by the end of 2019.
Looking ahead, Nestle sees continued improvement in 2019 in its
organic-sales growth and underlying trading operating profit
margin.
Nestle Chief Executive Mark Schneider said: "We are on our way
to meeting out 2020 targets."
The company said it will explore strategic options for its Herta
charcuterie business, which it expects to complete by the end of
2019. The company added that its review of its skin-health business
should be completed by mid-2019.
Write to Anthony Shevlin at anthony.shevlin@dowjones.com;
@anthony_shevlin
(END) Dow Jones Newswires
February 14, 2019 01:47 ET (06:47 GMT)
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