Nestle profits surge

Agence France-Presse

The profits, equivalent to $15 billion, were up 69.4 percent from 2007's 10.6 billion francs.The earnings were significantly boosted by the sale of a quarter of its stake in eyecare company Alcon to Novartis, leading to a profit of 9.2 billion dollars on the disposal.

Sales reached 109.9 billion francs last year, up 2.2 percent compared to 2007, as the strength of the Swiss franc against most other local currencies dented the results reported in francs. But the group warned that the global economic downturn could further impact consumer demand. "It is clear that in the prevailing market conditions, we will grow slower in 2009," said Jim Singh, the chief financial officer.