Nestle reports stronger than expected 2009 earnings

The world’s biggest food company posted stronger than expected 2009 earnings

The Switzerland-based food company, Nestle, today announced full year fiscal 2009 earnings, beating Wall Street expectations.

Aggregate sales in 2009 were 107.62-billion francs, down 2-percent YoY. Nestle’s organic business missed internal sales growth forecasts for the year, growing 4.1-percent, compared to 5-pecent expected growth.

The company said it netted 10.4-billion francs in profits (CHF 2.92 per share), which compares to CHF 18-billion in fiscal 2008 (Fiscal 2008 net profit was higher because of an acquisition).
Analysts were expecting just over 10-billion francs in profits.

Nestle today forecasted significant improvements in 2010 sales, especially as sales in the European segment are expected to pick up after a 0.9-percent drop in 2009.

Nestle’s top revenue generator, it’s bottled-water business, experienced a significant 1.4-percent decline in revenue in 2009. That business contributes 10-15-percent of total revenue for the firm.

The company also confirmed today it would increase its regular dividend on preferred stock by 14-percent to 1.60 francs per share.


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Peggy holds a Bachelor Arts degree with honors in Economics from York University in Toronto, Canada. She is a Certified Management Accountant (CMA). She has also passed Level I of the Chartered Financial Analyst (CFA) Program. She is also a realtor. Write to peggy@business2press.com
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