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02-17-2011, 04:09 AM
MADRID (MarketWatch) -- Swiss food and beverage giant Nestle SA on Thursday reported 2010 net profit more than tripled to 34.23 billion Swiss francs ($46.41 billion) against CHF10.43 billion in the year-ago period as the group saw growth across all categories and regions and improved market share. The group saw organic growth of 6.2% and improved its margin for earnings before interest and taxation by 20 basis points. Sales for the group rose slightly to CH109.72 billion against CH107.62 billion in the year-ago period. A survey of analysts polled by FactSet Research had forecast net income of CH35.2 billion on sales of CH105.44 billion. The group lifted its dividend 15% to CH1.85 per share. The company said 2011 has started with continued momentum, despite volatile raw material prices, and is targeting organic growth between 5% and 6% and a earnings before interest and taxation margin improvement.
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