Swiss dairy group Emmi has seen first-half profits boosted by acquisitions as recent purchases drove sales.
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The company booked a 14% rise in operating profit to CHF32m (US$27.4m) for the first six months of the year. Sales rose 10.3% to CHF1.2bn.
Revenue was driven by contributions from recent acquisitions including northern Italian yoghurt producer Trentinalatte and Swiss venture Mittelland Molkerei. On an organic basis, sales inched up 2.2%.
Sales of dairy products jumped almost 15% to CHF362.8m, or over a quarter of Emmi’s revenue. The company said growth was “entirely due” to the integration of Mittelland Molkerei.
Fresh products sales climbed 26.6% on the back of the Trentinalatte acquisition. Cheese sales inched up 0.6% as the liberalization of the EU cheese market hit sales in Switzerland.
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By GlobalDataLooking ahead to the second half of the year, Emmi cautioned of a “challenging” trading environment as rising commodity costs pressure margins.
However, the company placed faith in “brand concepts and specialities” to drive sales.
