Swiss dairy giant Emmi has booked an increase in profits for the first half of the year.
For the six-month period, the company earned CHF39.9m (US$39.3), an increase of 21.5% on the prior year.
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Earnings before interest and taxes (EBIT) amounted to CHF60.7m compared to CHF44.7m last year.
Emmi’s sales however, dropped slightly to CHF1.27bn from CHF1.28bn in 2009.
Despite this, Emmi said it anticipates stable sales for the second half of the year, with the net profit margin stabilising at around 3%.
“Consumer sentiment is likely to continue its slight recovery in Switzerland and the majority of Emmi’s key markets,” the firm said. “We anticipate that the currency situation will remain uncertain for the foreseeable future. The consequences of Emmi’s price increases for exports from Switzerland in the second half of 2010 because of the deteriorating exchange rate remain unclear.”
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