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Nestlé reports slowest sales growth in six years

Swiss food giant Nestlé said on Thursday that its net profits plunged by 39 percent last year due in part to a strong Swiss franc. The company said the lower net profits were "mostly due to the one-off impact from the disposal in 2014 of part of the L'Oréal stake", which boosted revenues in that year. In coffee, Nestlé is under pressure following last year’s $13.9bn acquisition of Keurig Green Mountain. “We are on high alert,” Mr Bulcke admitted.

Nestlé
Nestlé's corporate headquarters building in Vevey, Vaud, Switzerland

VEVEY, Switzerland–Shares in Nestlé SA dropped more than 4% on Thursday after the Swiss food giant reported its slowest sales increase in six years. The Swiss food giant said that its net profits plunged by 39 percent last year due in part to a strong Swiss franc.

Net income for 2015 stood at 9.1 billion francs ($9.18 billion), lower than the 9.8 billion francs forecast by analysts and down from 14.5 billion francs in 2014.

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