Switzerland-based bakery firm Hiestand Group saw third-quarter sales leap over 50% thanks mainly to last year’s Fricopan acquisition.

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Hiestand, which makes deep-frozen and convenience bakery products, booked sales of CHF189.3m (US$269.9m), a jump of 50.9%.


Nevertheless, organic sales growth was strong, rising 17.4% thanks to rising revenue in Europe and Asia.


Hiestand said it would surpass its sales target for 2007 of CHF700m.


Industry analyst James Amoroso, from Swiss broker Helvea, forecast sales of CHF740m. “These are excellent figures and slightly better than we had expected,” Amoroso said.

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