Medical food

Nestle posts higher 2021 profit, sales as prices hiked       

Swiss food giant Nestle's net profit and sales rose in 2021 as it sold shares in cosmetic company l'Oreal and hiked prices amid soaring global inflation, group results showed Thursday.

Businesses have faced supply chain disruptions and decades-high inflation as the global economy recovers from the Covid pandemic and energy prices surge.

Ice cream factory Froneri closes down, leaving 102 jobless

Ice cream factory Froneri Hellas S.A, a joint business venture between Nestle and R&R, announced it would be suspending the operation of its plant in Tavros, Monday. The company, which employed 102 permanent staff and over 100 seasonal employees, said in its statement it was forced to shut down in an effort to reorganise and curtail its financial losses.