Nestle's Australian operations report 2012 year-over-year net profit decline of 44% to AU$107.9M, affected by increased use of house brand lines, more subdued consumer spending

Nevin Barich

SYDNEY , July 25, 2013 (Sydney Morning Herald) – The 2012 full-year company accounts lodged by the Australian operations of global food manufacturer Nestle show a profit decline by 44% to $A107.87m, despite revenue being close to level at $A2.092bn. Like other multinational suppliers to dominant supermarket chains Woolworths and Coles, Nestle has been affected by their increased use of house brand lines, as well as by the more subdued consumer spending. Among the best-performing divisions of Nestle Australia are its Nespresso product, Purina pet food and the Jenny Craig weight reduction business

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