Nestlé has reported a 15.8% increase in full-year net profit to CHF10.6bn (£5bn) on sales up 9.2% at CHF107.6bn (£50.4bn).

In Europe, sales rose 2% to CHF28.5bn (£13.4bn), boosted by double-digit growth in Russia and Poland and positive growth trends in Germany, France and Great Britain. Chocolate did especially well in Great Britain because of a renewed focus on strategic brands.

“Our success is now driven more by our capacity to innovate and use our R&D pipeline to launch new, added-value products and services than by raw material prices or the economic climate,” said chairman and CEO Peter Brabeck-Letmathe.