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Nestle announces big profit turnaround

By Burton Mail  |  Posted: July 26, 2014

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A SOUTH Derbyshire coffee giant has turned around losses of almost £12 million into profits topping £25 million in its last financial results.

Nestle, based in Hatton, saw revenues rise by £100 million in 2013 to £1.75 billion, up 6.1 per cent from the previous year.

The surge in sales, reported for the year ending December 31, 2013, resulted in pre-tax losses of £11.9 million from 2012 being transformed into a pre-tax profit of £25.2 million.

Also contributing to the upturn in fortunes was exceptional costs relating to the restructure of the business of almost £2.3 million, compared to costs of £12.7 million in 2012.

In the group's strategic report, supporting the full-year results, Elizabeth Legge, finance director at Nestle UK, said: "The management of the business of the company and the execution of its strategy are subject to a number of risks and uncertainties, including a difficult economic environment and a strong competitive environment."

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