Swiss dairy processor sees higher profit, lower sales
September 15, 2009
by Eric Schroeder
LUCERNE, SWITZERLAND — Emmi, a Swiss dairy processor with holdings in the United States, said net profit in the first half of fiscal 2009 rose 23% to 32.8 million Swiss francs ($31.5 million), up from 26.6 million Swiss francs in the first half of fiscal 2008.
Net sales, meanwhile, eased 0.7% to 1,280.9 million Swiss francs ($1,231.3 million). Emmi said its sales in the Swiss market fell nearly 4% to 958.9 million Swiss francs, while international sales rose a shade more than 10% to 322 million Swiss francs thanks to the acquisition of
Valley Cottage, N.Y.-based Roth Kase USA in January. Roth Kase is a manufacturer of specialty cheeses and has annual sales of approximately $90 million.
Looking ahead to the remainder of fiscal 2009, Emmi said it expects sales to fall due in part to "strained consumer sentiment, lower raw material prices and forecast exchange rate trends."
The company said it plans to continue to focus on the consistent implementation of its defined strategy, and will look to consolidate its share of the domestic market and concentrate its international efforts on the key markets of Germany, Italy, the United Kingdom, Austria and the United States.
"Substantially strengthening the umbrella Emmi brand and gearing the product portfolio to brand concepts offering significant development potential are also major priorities," Emmi said.
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