Swiss meat processor Bell Group posted a drop in half-year net profit today (13 August) and lowered its forecast for the second half of the year.
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For the six-month period, net profit dropped to CHF21.8m (US$20.4m), a decrease of 5.9% year-on-year. EBITDA, however, improved by CHF24m to reach CHF83m.
The company also experienced sales growth of around 40%, climbing to CHF35m, boosted by last year’s foreign acquisitions.
Bell’s poultry division enjoyed above-average sales growth, with net revenue improving by 3.8% to CHF178.4m. Sales in the group’s seafood division climbed to CHF45.7m, a 12.8% increase, while the company’s convenience division saw sales increase 5.2% to reach CHF 35.6m.
Despite this, Bell said it expects lower sales growth in the second half for Switzerland, and believes that the persistent economic crisis will also affect food sales.
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By GlobalDataExcluding unexpected changes to the consumer environment, Bell said it expects the annual result after goodwill write-downs to be “slightly lower” year-on-year.
