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Nestle unveils strong net profits on sale of Alcon Nestle unveils strong net profits on sale of Alcon
(about 1 hour later)
Swiss food giant Nestle has announced a net profit in 2010 of 34.2bn Swiss francs ($35.6bn; £22.1bn), up from 10.4bn Swiss francs in 2009.Swiss food giant Nestle has announced a net profit in 2010 of 34.2bn Swiss francs ($35.6bn; £22.1bn), up from 10.4bn Swiss francs in 2009.
Profits were boosted by the sale of a stake in eyecare specialist Alcon to healthcare firm Novartis for $28.3bn. Profits were boosted by the sale of a stake in eyecare specialist Alcon to healthcare firm Novartis for 24.5bn Swiss francs.
The firm expects growth in sales, excluding acquisitions and currency moves, of between 5% and 6% in 2011. Without the Alcon sale, Nestle's net profit fell 7% to 9.7bn Swiss francs.
Nestle said it was well-placed to cope with the "uncertainties" ahead, including volatile raw material prices.Nestle said it was well-placed to cope with the "uncertainties" ahead, including volatile raw material prices.
Nestle, which makes products such as Nescafe coffee, KitKat chocolate bars and Perrier water, said it expected sales to continue to grow this year.
Excluding acquisitions, disposals and currency moves, it predicts growth rates of between 5% and 6% in 2011.
The firm also said it would increase the dividend to shareholders from 1.60 to 1.85 Swiss francs per share.
"A very strong set of figures with underlying earnings... on the back of stronger-than-expected top-line growth driven by emerging markets and Asia. Its outlook statement is reassuring," said analyst Jon Cox at Kepler Research."A very strong set of figures with underlying earnings... on the back of stronger-than-expected top-line growth driven by emerging markets and Asia. Its outlook statement is reassuring," said analyst Jon Cox at Kepler Research.