HispanicBusiness

Revenues at Swiss food giant Nestle rose 5.4 per cent year-on-year to 21.9 billion Swiss francs (23.7 billion dollars) in the first three months of 2013, the company said Thursday.

The growth rate was slightly lower than the same quarter a year ago, when revenues were up 5.6 per cent.

The world's biggest food maker said its sales in Europe were particularly affected due to the economic crisis, posting a growth rate of just 2.8 per cent.

After deducting the effects of acquisitions and exchange rate fluctuations, quarterly sales growth fell from 7.2 per cent to 4.3 per cent.

Nestle does not release profit and operating profit figures in April.

Besides the difficult economic environment, the late onset of spring in developed countries also had a negative effect by curbing demand for ice cream and bottled water.

Revenue growth slowed also in some emerging markets, with Nestle citing "disruptive events" in the Middle East.

Nestle's shares were down 1 per cent during early trading on the Swiss Exchange in Zurich.