Swiss chocolate maker Chocolat Frey saw foreign exchange eat into sales in 2009 but claimed “record” operating profits.

The company, owned by Swiss retail giant Migros, posted a 3.4% fall in annual turnover to CHF368m (US$342.7m).

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Its domestic sales were flat at CHF265m but overseas revenues dropped 10.9% to CHF103m thanks to the weakness of sterling and the US dollar against the Swiss franc.

Nevertheless, Frey claimed it had maintained its “leadership” of the Swiss market and said it had generated a “record” operating profit.

Officials at Frey could not be reached for an immediate comment.

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