NESTLE STRONG AS RIVALS SUFFER PRICE HIKES

NESTLE bucked the industry trend by beating forecasts yesterday, reporting a 6.6 per cent rise in underlying first-half sales as volume growth ticked up. Global food prices are near record highs, but many of Nestlé’s key ingredients, such as coffee, sugar and dairy products, are less affected than cereals. Net profit rose 8.9 per cent to SFr5.1bn (£3.26bn).