Summary Box: Nestle sales beat hopes

AP News
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Posted: Feb 16, 2012 12:10 PM
Summary Box: Nestle sales beat hopes

RISING PROFIT: Nestle SA, the world's biggest food and drinks maker, managed to brush aside the impact of a soaring domestic currency to post a solid increase in profits in 2011 as sales rose strongly.

TOPPING EXPECTATIONS: Nestle's 7.5 percent sales growth in continuing sales during the year was better than expected.

CLOUDY HORIZON: "We're really living in a new reality," CEO Paul Bulcke said of the world's financial crises and political upheaval in the past year. He called them "tectonic shifts" in which wealth was moving to developing nations and where governments were faltering in solving big problems.