By Adria Calatayud
Emmi reported a higher net profit for the first half, thanks to a top-line boost from pricing and to cost savings, and said it now expects stronger sales growth in its Swiss division and a weaker performance in Europe.
The Swiss milk and dairy-products maker said Friday that it made a net profit of 97.8 million Swiss francs ($111.3 million) for the first six months of the year, up from CHF78.1 million a year before.
Net sales for the half year rose to CHF2.10 billion from CHF2.02 billion. On an organic basis, organic sales rose 6.5%, which the company said was driven by prices.
Earnings before interests and taxes rose to CHF138.5 million from CHF108.6 million, with a margin that increased to 6.6% from 5.4%.
Emmi confirmed its guidance at group level, but said it now expects organic sales growth in its Swiss division to be 2% to 3%, up from a 1%-2% range previously, due to the strength of the Swiss franc. In Europe, the company anticipates organic sales to be flat or grow up to 1% in light of the challenging economic environment, having previously forecast a rise of between 3% and 5%.
Write to Adria Calatayud at [email protected]
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