Container Top
Homes   Jobs   Cars   Shopping
Search

Events Calendar

EVENT SEARCH:

In This Section


Most Read Stories


Blogs:


Pets:
Dogs' Bark: Not fair! Study shows pups get jealous

The Heldenfiles:
HTTP Error 403

Patrick McManamon:
More on Varejao

Akron Zips:
Opponent outlook: Kent State

Browns Bulletin:
Quick thought on Browns rookies

Tribe Matters:
Wedge challenges relievers

Cleveland Browns:
Stallworth test showed marijuana

Kent State Sports:
Men's Basketball Scheduling update

Cleveland Cavaliers:
Andy’s Signed According to ESPN

All Da King's Men:
Does Medicare Have Lower Administrative Costs ?

Blog of Mass Destruction:
CIA Did Mislead Congress

Akron Law Café:
Breaking Story: CIA Lied to Congress about Secret Program

Varsity Letters:
East basketball update

See Jane Style:
Oh Baby!

Car Chase:
Where do We Go from Here?

Let's Talk Real Estate:
Closings….Not the Good Kind!

Ohio Travels with Betty:
Margy inquires-when is a Taste of Hudson?

Sound Check:
LeVert II live performance Saturday night — "Dedication" album due July 13,

HRLite House:
DDI One of Best Places to Work

Akron Gamer:
First 24 'Guitar Hero 5' songs announced

Nestle's sales keep growing

Nutrition unit keeps 10% sales-increase goal

By Thomas Mulier
Bloomberg News

Nestle SA, the world's largest food company, maintained its goal of raising sales by between 5 percent and 6 percent a year over the coming decade.

The forecast excludes currency movements, acquisitions and asset sales for the Swiss-based company that has a Nestle Prepared Foods division based in
Solon.

Nestle said it also expects to improve operating profit as a percentage of sales each year, according to slides of a presentation posted Monday on its Web site.

Sales will gain 7 percent to 7.5 percent in 2008 on the basis of the 10-year forecast, beating long-range goals for a fourth year, Chairman Peter Brabeck-Letmathe said in April.

Nestle's nutrition unit also reiterated its goals of raising sales by 10 percent a year excluding acquisitions and reporting an operating-profit margin of at least 20 percent.

Nestle has built up the nutrition division with the $600 million purchase of weight-loss company Jenny Craig in 2006 and last year's acquisitions of drug maker Novartis AG's Gerber baby-food unit and its medical-nutrition division, which together cost $12 billion.

Jenny Craig now boasts a ''mid-double-digit'' operating-profit margin, wider than the prior ''high-single-digit'' level, Nestle said, adding that 2008 had a ''very strong start.''

The company forecast sales this year of $1.9 billion from health-care nutrition such as products for cancer patients. Revenue from infant nutrition will rise 67 percent from 2006, the company said.

Nestle posted the slides as investors were briefed on strategy at a two-day conference at its company headquarters.

Nestle SA, the world's largest food company, maintained its goal of raising sales by between 5 percent and 6 percent a year over the coming decade.

Get the full article here.


Story tools

Email  Email   Print  Print   Save  Save   Reprint  Reprint   Popular  Most Popular   Reprint  Subscribe

Share this story

AddThis Social Bookmark Button
















Most Commented Stories