September 2, 2010

Switzerland's Emmi expects decrease in sales for H2

While Swiss dairy giant Emmi saw profits rise in the first half of the year, it expects a decrease in sales in the second half due to strained consumer sentiment.

For the six-month period, net profit climbed to CHF32.8 million (US$32.4 million), an increase of 23.3% on the prior year period.

EBITDA remained stable at CHF84.6 million (US$83.5 million), a slight drop on the CHF85.7 million (US$84.6 million) recorded last year.

Sales however, dropped to CHF1.28 billion (US$1.26 billion) from CHF1.29 million (US$1.27 million) in the comparable period of the prior year.

Emmi said it expects sales to fall in the second half of 2009 due to strained consumer sentiment, lower raw material prices and forecast exchange rate trends.