Nestlé today reported a forecast-beating full-year net profit of 10.649 billion Swiss francs (€6.582 billion), up 15.8 per cent.
The profit was driven primarily by strong growth in the food and beverages business as new products compensated for rising raw material prices and a deteriorating economic climate.
The Swiss food giant said it is confident the momentum will be maintained over the coming years. It also announced a dividend increase to 12.20 Swiss francs from 10.40 Swiss francs and a 10-for-1 share split.
Sales during the period increased to 107.552 billion Swiss francs, up 9.2 per cent year-on-year and beating the consensus forecast of 107.238 billion Swiss francs.
Earnings before interest and taxes (EBIT) grew 12.9 per cent year-on-year to 15 billion Swiss francs, resulting in an EBIT margin of 14 per cent, a 50 basis point improvement over 2006.
In Ireland Nestlé sells and distributes brands such as Nescafé coffee, and the KitKat, Aero and Smarties snacks.