Switzerland-based Bell Group has reported an increase in net profit for the first half of 2011 despite a fall in sales.

The meat processor said today (11 August) that net profit rose 2.5% to CHF26.8m (US$36.1m).

EBITDA fell 5.4% to CHF83m, although it said that adjusting for M&A and exceptional costs in 2010, EBITDA was “on par” with the previous year.

Sales were down 2.6% to CHF1.2bn but Bell said sales rose 3.5% if the impact of the Swiss franc and M&A were removed from the results.

This year, Bell has sold its convenience food unit to sandwich-to-pizza maker Hilcona. As part of the deal, Bell acquired a 49% stake in Hilcona. In April, Bell acquired German convenience meats business Hoppe.

For the remainder of the year, the company expects sales volumes to grow “across the board” for the group although there might be “some regional differences”.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In Switzerland, Bell expects “restrained growth in the retail and foodservice sectors” with stronger pressure on prices and margins.

In Bell’s other European markets, price increases are set to take effect in the second half, which will provide a “better cushion for higher procurement costs”, it said.

It expects the annual operating result to be “on par” with the previous year.