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NEWS: H1 PROFITS UP 6% AT FOOD GIANT N?TLE (Source: The Grocer)  

N?tle has announced a 6% rise in pre-tax profits for the first six months of 2008 to CHF7.3bn (?3.53bn).

The world?s largest food company reported sales up by 3.8% over the equivalent period last year to a new mark of CHF53.1bn (?25.7bn), with organic sales growth of nearly 9%.

The Food and Beverages division generated CHF49.3bn (?23.8bn), with the European operation responsible for CHF13.8bn (?6.7bn) of that.

?These figures build on the strong momentum gathered from last year's milestone results,? said N?tle chief executive Paul Bulcke, who took the helm in April.

?Nestl?s drive to become the world's recognised leader in nutrition, health and wellness, its strong billionaire brands and its focus on speed and discipline in execution have allowed the company to further accelerate its performance under difficult economic conditions. Our Food and Beverages business will be the key driver of [future] profitable growth.?

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