Nestle net profit dips 37%

Swiss food giant Nestle is reporting a 37 per cent drop in net profit largely because of a stronger Swiss franc, a re-evaluation of its stake in a Swiss dermatology care products maker and the impact of a stake in L'Oreal. Nestle reported net income in 2015 fell to 9.07 billion Swiss francs ($A14.07 billion), from 14.46 billion Swiss francs a year earlier, citing the re-evaluation at the Galderma dermatological pharmaceutical business and the 2014 sale of a stake in the French cosmetics company. Revenue fell three per cent to 88.79 billion Swiss francs.

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