Swiss food giant Nestle posted a half-year profit of 5.1 billion Swiss francs ($ 5.5 billion) on Thursday, despite slowing growth in Europe and emerging markets.
The world’s biggest food maker said its net profit grew 3.7 per cent. Global sales increased 5.3 per cent to 45.2 billion francs.
Excluding the effects of business acquisitions and currency movements, the so-called organic growth rate of sales was only 4.1 per cent, lower than the 6.6 per cent in the first half of last year.
In Europe, weak consumer confidence and a cold spring season that hurt ice cream and beverage business slowed sales growth to 0.5 per cent.
Business expanded 8.2 per cent in emerging markets, down from 12.9 per cent in the same period last year.
Among Nestle’s product groups, baby food saw double-digit growth in Asia, Oceania and Africa.
At the same time, sales of ready-made dishes declined slightly.