Swiss-headquartered Nestlé, the world’s biggest food manufacturer and ninth largest advertiser, on Tuesday posted first half profits of SF2.78 billion ($2.0bn; €1.8bn; £1.26bn) despite a 6.2% decline in sales.

The result compares year-on-year with SF5.7bn – a figure much inflated by asset sales. However, the food giant’s H1 performance stands up well alongside analysts’ consensus guesstimate of SF2.77bn.

And although sales for the period had fallen, “real internal growth” in the first half – growth net of factors like currency fluctuations and acquisitions – reached 2.1%. Furthermore, organic growth (calculated as above but inclusive of price changes) was 5.5%.

For the year as a whole, Nestlé predicts organic growth of between 5.0% and 6.0%.

Data sourced from: The Wall Street Journal Online; additional content by WARC staff