Nestlé Posts 10% Profit Drop Amid China Slump

By Ayomide Otitoju Nestlé reported a 10.3% decline in first-half net profit to 5.1 billion Swiss francs ($6.4 billion) on Tuesday, as weak consumer spending in China and high input costs continue to weigh on the Swiss food giant. While group sales dipped just 1.8% to 44.2 billion francs, the company attributed the decline largely…