Swiss food maker Huegli today (13 August) booked record half-year profits on better sales and tight cost control but warned the strength of the Swiss franc would hit annual turnover.
Huegli posted a 21.5% rise in EBIT to CHF20.8m (US$19.7m), while the sale of Czech chocolate spread business boosted the company’s net profit, which grew 37.1% to CHF15.4m.
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The group’s first-half sales rose 4.6% at constant currencies but the strength of the Swiss franc against sterling and the euro weighed on reported sales, which inched up 1.6% to CHF196m.
Huegli said it is targeting sales growth of 5% for the whole of 2010 when measured in local currencies. However, the impact of foreign exchange and the sale of the Czech business is forecast to see sales fall 3% on a reported basis.
