Swiss food company Huegli Group has posted a 16% growth in turnover for 2008, with an 11.1% rise in sales on an organic basis.
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Sales for the period reached CHF400.8m, 8.5% of which was down to newly acquired companies.
Huegli’ss growth was “solidly” supported by all geographic segments and divisions, the company said today (27 January). The group expects its 2008 EBIT level to be above that of the previous year and profit similar to last year.
Sales in the company’s German division rose organically by 11.6% in local currencies, supported by all divisions but, Huegli said, most significantly by its private-label division.
Growing sales in the UK and in Switzerland boosted sales from Huegli’s Switzerland/rest of western Europe business unit, which saw revenue rise 11.1% on an organic basis. The acquisitions of Ali-Big in Italy and Contract Foods in the UK contributed with an acquisition-related increase of CHF25.9m.
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By GlobalDataThe company’s private-label division saw sales jump 24.3% with the trend towards value products further intensifying both at the discount price level and in the premium private label segment.
“As anticipated, the profit situation, after having been strongly weakened by high raw material prices in the first semester, improved significantly in the second semester,” Huegli said.
