Swiss food manufacturer Huegli has said its 2012 profits will not hit its forecasts after a drop in sales in recent months.
Huegli, which makes products from soups to desserts, saw revenues increase in the first half of the year but said yesterday (8 November) sales fell in August and September.
Go deeper with GlobalData
The weak performance in those two months means Huegli now expects second-half sales to fall 3%. Sales, when measured in local currencies, are now forecast to drop 1% this year.
“Company management is now assuming that it will not be able to reach the target range communicated thus far, with an EBIT margin of 7% to 8% throughout 2012, and will close with slightly lower operating results,” it said.
However, Huegli added: “We are reservedly optimistic about the coming year of 2013. We expect moderate sales growth overall, as well as an above-average increase in profitability.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
