SWITZERLAND: Huegli posts 38.8% profit growth for 2013
Huegli has reported positive profit and sales growth for 2013
Swiss food firm Huegli has recorded net profit growth of 38.8% for the full year 2013 at CHF20.8m (US$23.6m).
During the period, the company saw a significant jump in EBIT, which beat previous forecasts of growth "clearly above" 13%. Operating profit actually increased 36% to CHF29.3m as the group lapped "difficult" conditions in 2012. In 2013 operating margins rose to 8% from 6.6% in the prior year, the company revealed.
Eastern Europe was impacted by "negative developments" from the Czech Republic.
The firm stuck with the outlook it provided in January for 2014 of "moderate organic revenue growth" and has indicated first-quarter revenues are flat at 0.3% "in line with expectations".
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