Organic growth – i.e. non-acquisitive growth – rose by 4.4 per cent in the first three months of this year, just shy of the company’s full-year target of 5 per cent. Sales of bottled water sales rose by 7.4 per cent; sales of confectionery rose by 7.5 per cent.

Sales in emerging markets rose by 6.7 per cent, but growth was more sluggish in established markets in Europe and North America, at just 2.6 per cent. However, Nestle attributes this to “currency headwinds” and “economic woes” in those regions – and believes these figures simply represent “a slower start to the year.” The Swiss franc has risen in value by 16 per cent since January this year, when the currency was unpegged from the Euro.

Commenting on the results, chief executive Paul Bulcke hailed the performance, and said the company’s “full year outlook is confirmed.”

“We aim to achieve organic growth of around 5 per cent, and improve margins, underlying earnings per share, and capital efficiency.”

Nestle shares gained 1.58 percent following the announcement, (to £53.39) yesterday.