Switzerland-based dairy ingredients and infant-formula supplier Hochdorf has downgraded its forecast for the second half of the year.
The company said that while it expects a significantly improved second half, “the negative effects incurred during the first six months of the year will not be fully compensated”.
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Specifically, it is talking about the cost and delays linked to a new production line in Sulgen, Switzerland, a lack of turnover in China and the sale of the Hochdorf Baltic Milk business.
The group expects a reduced net turnover in the range of CHF570m (US$587.7m) to CHF600m.
CEO Thomas Eisenring said: “Given the production orders and sales recorded, we expect for the second half of the year a very good result. However, we will not be able to fully recover the half-year result below expectations.”
The Hochdorf Group achieved net sales of CHF281.6m in the first six months of 2018, compared to CHF302.4m in the corresponding period in 2017.
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By GlobalDataIn May Hochdorf announced it was buying Swiss baby food peer Bimbosan.
