Nestle reported weaker than expected full year net profit despite the world's biggest food group passing on higher raw material costs by hiking prices for customers.

The maker of the KitKat chocolate bar and Nescafe instant coffee said its net profit attributable to shareholders fell to 9.3 billion Swiss francs ($10.08 billion), missing forecasts for 11.6 billion francs in a company gathered consensus of analysts.

Net profit fell from 16.9 billion francs a year earlier when the company made a big gain from selling part of its stake in L'Oreal and as margins dipped slightly during the year. ($1 = 0.9228 Swiss francs) (Reporting by John Revill, Editing by Rachel More)