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Zurich, Switzerland (AFP) — Swiss food giant Nestle said on Thursday sales rose last year but inflation nibbled at its margins, while net profits plunged due to asset disposals in 2021. Sales rose by 8.4 percent to 94.4 billion Swiss francs (95.5 billion euros, $102.3 billion). However most of that was due to the company hiking prices. Nestle, which makes Nespresso capsules, Maggi soups and KitKat chocolate bars, estimated its real internal growth to be […]
ZURICH, Switzerland (AFP) – Swiss food giant Nestle said Monday it was opening a new production site in war-torn Ukraine, and would invest tens of millions in a factory and production network set to employ 1,500 people. “Nestle is announcing the opening a new production site in Ukraine,” the company, which had three facilities in Ukraine before the war broke out, said in a statement. It said that “40 million Swiss francs ($43 million) will be […]
ZURICH, Switzerland (AFP) – Swiss food giant Nestle said Thursday it will pour seven billion riyals ($1.8 billion) into Saudi Arabia over 10 years in a bid to strengthen its presence in the kingdom. The announcement is likely to be a major boost to Riyadh as the kingdom pushes to attract greater foreign investment. Nestle will build a new factory, due to open in 2025 that will produce infant nutrition products and ready-to-drink coffee for the […]
