Nestlé SA, the world's largest food company, said sales growth will accelerate in 2010 as the company expects higher advertising to culminate into increased sales. Nestlé, which recently bought Kraft Foods Inc.'s frozen-pizza business, clocked a full year net profit of 10.42 billion Swiss francs ($9.67 billion) from 18.04 billion francs in 2008.

The figures are not comparable as the year-earlier figures were inflated by a substantial gain from the part-sale of US eye care-company Alcon Inc. to Novartis.

Nestlé will sell its remaining majority stake this year for 28.1 billion. Sales also declined 2.1 per cent to 107.62 billion francs from 109.91 billion francs. Nestlé said it plans to raise its 2009 dividend to 1.60 francs from 1.40 francs.

"Our 2009 performance was broad-based across all categories and regions and demonstrates our ability to deliver in the short term whilst continuing to invest for the long term," said CEO Paul Bulcke.

Still, the company missed long-term sales target for its bottled water, Nestlé gets a little over10 per cent of its sales for bottled water. Nestlé's bottled water revenue declined 1.4 per cent, as consumers opted for cheaper alternatives.