Swiss food maker Huegli Holding said today (15 April) that it is targeting sales and profits to accelerate in 2010 after a year when EBIT jumped 17%.
Huegli, which has production sites in Switzerland, Italy, Germany, the Czech Republic and the UK, booked EBIT of CHF35.3m (US$33.3m) in 2009, an increase of 17% on the year. Net profit was up 19.6% at CHF23.2m.
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Revenues fell 2.6% but Huegli said its top line was hit by the strength of the Swiss franc. On a constant-currency basis, sales were up 4%.
The company forecast a 9.5% rise in sales on an organic basis during the first quarter of 2010 and is targeting 5% growth across the whole year. Huegli would only say that it sees a “higher increase of EBIT” in 2010.
