Nestle has reported first-half profits that missed market forecasts after poor European weather hurt demand for ice-cream and bottled water.
Nestle owns many well known brands
The maker of KitKat biscuits, Nescafe coffee and Purina dog food also said it was hit by higher raw material costs.
Profit for the six months to the end of June was 2.84bn Swiss francs ($2.3bn; £1.2bn), up 2.1% from a year earlier.
The company was bullish about its prospects for the rest of the year, reiterating it would hit sales targets.
Swiss-based Nestle has forecast that revenues will climb by as much as 6% in 2004.