Nestle 1H profit slips, sales grow behind North America

August 18, 2016 6:24 AM

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GENEVA – Swiss food and beverage giant Nestle says first-half profits dipped due to a one-time tax expense even as revenues edged up behind growth in its key North American food business and despite a slowdown in the Chinese market.

The Vevey, Switzerland-based maker of Kit Kats, Lean Cuisine meals, Maggi noodles and Gerber baby foods says net profit came in at 4.10 billion Swiss francs ($4.27 billion), down from 4.52 billion francs a year earlier, due to a 400-million franc deferred tax adjustment.

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