Nestl profits fall two per cent

The world’s biggest food company Nestlé yesterday said first half profits fell by two per cent thanks mainly to a strong Swiss Franc. The group said its net profit was SFr5.1bn (£2.9bn) in the first half of 2009, down from SFr5.2bn in the same period last year. But sales grew by 3.5 per cent, stripping out the effect of acquisitions and exchange rates, the company said, thanks to demand for well-known brands like Yorkie and Smarties.