The Nestlé Group released its full year earning for 2011 on 16 February, reporting total sales over US$91 billion and 7.5 per cent organic growth. The group's trading operating profile was set at US$13.6 billion, with its net profit reported at US$10.3 billion, up 8.1 per cent on a continuing basis. “We delivered good performance, top and bottom line, in both emerging and developed markets in 2011,” said Paul Bulcke, Nestlé CEO in a press release. “It was a challenging year, and we do not expect 2012 to be any easier. We have continued to invest for the future and strengthen our capabilities across the world.” The company reported that Nespresso had another strong year, with growth over 20 per cent on a sales base well in excess of US$3.2 billion. “The continued strong consumption in Nespresso's core markets, as well as geographical expansion and the constant innovation of products and systems, ensured a strong performance in the face of intensified competition,” the press release noted. “The unique Nespresso service proposition including boutiques, e-commerce and call centres builds intimacy with our consumers which helps further reinforce our prospects for future growth.” The press release said that the Nestlé Group continued to grow in all regions of the world, with 5 per cent organic growth in Europe, 6.4 per cent in the Americas and 13.1 per cent in Asia, Oceania and Africa. The business grew 13.3 per cent in emerging markets and 4.3 per cent in developed markets. The company attributed innovation for driving its European growth with a major contribution from brands like Nescafé Dolce Gusto, Nescafé Sensazione in soluble coffee and Herta in chilled culinary. Bulcke said that the company is positioned in 2012 to deliver the Nestlé Model of organic growth between 5 per cent and 6 per cent. At the Annual General Meeting on 19 April, the company said that the Board of Directors will propose a dividend of US$2.12 per share. The net dividend will be payable as from 26 April 2012. The Board will also propose the cancellation of the shares bought back under the US$10.9 billion buy-back program completed in 2011.