SWITZ: Forex weighing on Huegli turnover
Swiss food company Huegli Group is seeing foreign exchange weigh on its revenues.
Late last week, the firm booked a 5.3% drop in turnover for the first four months of the year, as a result of currency fluctuation.
Huegli saw turnover rise 1.5% on an organic basis and confirmed its outlook for the 2009 fiscal year.
Huegli CEO Jean Gérard Villot said the group expects sales of CHF395m (US$351m) for the year, organic growth of 3% and a decrease of 4% in Swiss francs.
Villot said the company's priority is to increase EBIT by more than 3% to over CHF30m.
The shareholders have passed an unchanged dividend of CHF11.00 at the rate of repayment of CHF8.50 nominal value of CHF2.50 gross dividend per share
The company's half-year report is expected be published on 14 August.
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