The world's biggest food group, Nestlé, has reported almost flat revenue growth in its fiscal first quarter.
The Swiss-headquartered giant says revenue rose by less than 1% over the same period last year to SF20.46 billion ($17.3bn, €13.2bn, £9bn).
However, ceo Peter Brabeck declared the figures "satisfactory" and in line with expectations for organic growth of between 5% and 6% a year.
Sales excluding currency fluctuations and acquisitions gained 4.6% in the first quarter, underpinned by a 4.5% rise in overall sales of petcare products in the first three months of the year. The North American unit of Nestle's Purina division, which owns brands including Friskies, Mighty Dog and Puppy Chow, has shown a "particularly high" growth rate.
The beverage division, responsible for brands including Nescafé and Milo, achieved 3.9% sales increase.
Data sourced from Bloomberg.com; additional content by WARC staff