Nestle SA, the world's largest food and beverage company, yesterday posted record sales of 81.4 billion Swiss francs (about US$70.1 billion) for the first nine months of 2008.

Consolidated sales from January to September grew 3.4 percent over the same period last year, said the Vevey-based company in a statement.

The company's food and beverage division posted sales of 75.8 billion Swiss francs, a rise of 3 percent from the same period last year.

"These record sales in the first 9 months reflect strong growth momentum in both the developing and the developed world," said Nestle CEO Paul Bulcke.

"The group's brands hold leadership positions in dynamic categories and will continue to deliver profitable growth on the back of our nutrition, health and wellness strategy," he added.