Switzerland-based baker Hiestand Group today (18 April) unveiled “strong” organic growth during the first quarter of the year, with sales rising 12.8%.
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Hiestand said sales rose to CHF185.1m (US$180.7m), up from CHF164.7m a year earlier.
“We are pleased with the momentum we have built,” a spokesperson for the company told just-food. “We anticipate that sales will continue to grow throughout the year.”
In Europe, Hiestand said turnover rose 13.1%, “significantly above” the 12.3% increase reported the previous year.
In Asia, the company saw sales growth slow from 11.6% in the first quarter of 2007 to 5.1% this quarter. Hiestand said that this was the consequence of a streamlining of its Japanese offering – a move the group said would improve profits.
Hiestand said that it remains optimistic that it will achieve sales growth of between 8% and 10% in fiscal 2008.
Hiestand produces frozen convenience bakery products for sale in Switzerland, Germany, Austria, Poland, Malaysia, Japan and Turkey.
In 2007, the company recorded sales of CHF740.6m.
