Swiss-based food giant Nestle has reported an 18.7% increase in half year net profits to $3 billion, prompting it to raise its growth target for the full year.
Nestle said in a statement that sales had increased by 8.4% in the first six months of the year.
Organic growth - a measure of business performance that excludes financial investments or acquisitions - reached 7.4%, above Nestle's target of about 5% to 6% for the year.
Nestle is expecting continued increases in the price of raw materials, especially milk.
Meanwhile, the company's board has agreed to a new 25 billion Swiss franc share buyback scheme over three years.
