Nestle posts jump in first-half profit as US, China markets improve

Nestle is actually citing “increased momentum” from the United States as well as China as the Swiss food as well as drinks giant reported a 19-percent jump in net profit from the first half of the year.

The Vevey, Switzerland-based vendor of Hot Pockets, Coffee-mate as well as Purina pet care products said net profit rose to 5.83 billion Swiss francs ($5.86 billion), up by nearly 4.9 billion francs a year earlier.

Nestle on Thursday attributed the jump to the disposal of businesses, lower taxes as well as enhanced operating performance.

Sales rose 2.3 percent to 43.9 billion Swiss francs, as well as organic growth, or growth not linked to acquisitions, climbed 2.8 percent. Nestle projected organic growth would likely improve to 3 percent for the full year.

CEO Mark Schneider said “our strategic initiatives as well as rigorous execution are clearly paying off.”

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