Nestle net profit soars to new record

VEVEY, Switzerland: Nestle posted a higher-than-expected 13.8% rise in 2006 net profit, boosted by its food and beverage business and a surge in Nespresso sales. 

Net profit was 9.2 billion Swiss francs (US$7.4bil), a fresh record for the world's largest food group, beating the nine billion average forecast in a Reuters poll of 15 analysts. Net profit at 8.1 billion in 2005 had also been a record.