date:Aug 08, 2014
group also announced an 8 billion franc share buyback, following the sale of an 8 percent stake in L'Oreal (OREP.PA) earlier this year. This was more than the roughly 5 billion repurchase expected by the market, according to Bank Vontobel analyst Jean-Philippe Bertschy.
The company said it wanted to complete the buyback by the end of 2015.
Net profit at Nestle, whose brands range from KitKat chocolate bars to Nescafe coffee, fell about 10 percent to 4.6 billion francs in the six months to June