FOODS group Nestl said it had achieved a strong first half of the year after overcoming rising cost pressures and tough trading conditions.
The group, known for Kit-Kat chocolate bars manufactured in York, met its own expectations with net profits of 3.68 billion Swiss francs (£1.62 billion), an increase of 32.4 per cent on the figure for the January to June period last year.
Nestl was helped by growth in its key UK market, while price rises earlier in the year offset higher raw and packaging material costs.
Chairman Peter Brabeck-Letmathe said the half-year results demonstrated "the strength and depth" of Nestle's brand portfolio.
Among its other products, Nestl produces Nescaf coffee, Shredded Wheat cereal, Buitoni pasta and Vittel mineral water.
The company achieved worldwide sales growth of 5.2 per cent in the period, of which 1.8 per cent of the improvement was due to price hikes.
Nestl is based in Vevey in western Switzerland and has a UK head office in Croydon, south London, plus sites at locations including the former Rowntree plant in York, Dalston in Cumbria, Girvan in Ayrshire and Castleford in West Yorkshire.
Updated: 11:54 Thursday, August 18, 2005
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