Nestle 1st-Half Sales Down Slightly, Net Income Up 19%

Nestle SA (NESN.EB) said Thursday its first-half sales slid slightly from a year ago, though net income rose.

The Swiss consumer giant said revenue in the latest period was 43 billion Swiss francs ($45.2 billion) versus CHF43.2 billion a year earlier.

Net profit was CHF4.9 billion, up 19% year over year.

Analysts had expected a first-half net profit of around CHF4.8 billion, according to estimates compiled by the company.

Sales had been expected to come in at CHF43.8 billion.

Organic sales growth, which strips out the effects of currency changes, acquisitions and divestments, was 2.3%, Nestle said.

Write to Brian Blackstone at

(END) Dow Jones Newswires

July 27, 2017 01:46 ET (05:46 GMT)