Swiss dairy group Emmi, which warned in December that it would miss its profit forecast for 2007, has booked rising sales for the year.
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Emmi today (4 February) posted a 7.1% rise in net sales to CHF2.5bn (US$2.3bn) thanks, the company said, to its Swiss venture Mittelland Molkerei and recent Italian acquisition Trentinalatte.
The company reiterated that its overseas earnings in the second half of 2007 were below expectations, a warning it first sounded in December. Emmi then blamed a delay in being able to pass on rising raw material costs to consumers.
The group’s profit numbers for 2007 will be published on 16 April.
However, Emmi said it had drawn up a package of measures to cut costs by CHF20m over the next two years.
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By GlobalDataEmmi’s revenue in Switzerland rose 4.8% thanks to the Mittelland Molkerei venture, which drove an increase in sales of the company’s dairy products. Internationally, sales rose 15.3%.
The company saw its sales of fresh products jump 13.5% to CHF537m thanks to the growth of Emmi Caffè Latte and Italian dairy Trentinalatte.
The company’s cheese sales rose 3.7% thanks to growth overseas.
