ZCZC
BCN-05
SWITZERLAND-ECONOMY-EARNINGS-NESTLE
Nestle says 2020 held up against virus crisis
ZURICH, Feb 18, 2021 (BSS/AFP) – Swiss food and snacks giant Nestle said
Thursday that it put in a strong 2020 performance despite the coronavirus
pandemic although its headline figures fell following a series of asset
sales.
Nestle said its net profit fell 3.0 percent to 12.2 billion Swiss francs
($13.5 billion, 11.2 billion euros) while sales dropped 8.9 percent to 84.3
billion Swiss francs.
The year was marked by a series of major sales in sectors falling out of
favour with customers, and acquisitions in growth areas such as vegetarian
products and health nutrition.
“The global pandemic has not stopped us,” Nestle boss Mark Schneider said
in a statement, citing continued organic growth for a third consecutive year.
The company said the pandemic with its lengthy lockdowns had boosted demand
for food products for animal companions along with pastry goods, coffee,
vegetarian and health foods.
BSS/AFP/MSY/1455 hrs