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Inflation nibbles at Nestle margins
Inflation nibbles at Nestle margins
Business and Economy
by  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. Net profits fell by 45 percent to 9.3 billion francs in 2022 but the comparison with 2021 is deceptive since the disposal of shares Nestle held in L'Oreal boosted 2021 earnings.