Despite tough conditions in the European market, the world's largest food and drink company Nestlé posted a first-half net profit of 2.84 billion Swiss francs ($2.3bn; €1.8bn; £1.2bn), up 0.02% from last year's Sfr 2.78bn.

The Swiss-based company blamed poor weather conditions, a difficult trading environment in western Europe and high prices for raw materials such as milk and sugar for falling short of the targeted Sfr 2.95bn profit.

Sales edged higher from Sfr 41.4bn in 2003 to Sfr 42.5bn, while total organic sales climbed by 7.3% in the Americas, but slipped by 0.4% in Europe.

Data sourced from:; additional content by WARC staff