M-Industrie, the food manufacturing arm of Swiss retailer Migros, has recorded an increase in full-year sales.
Organic growth and acquisitions abroad contributed to a 2.5% increase in sales for the firm, which stood at EUR5.32bn (US$7.20bn), the firm noted today (11 February).
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The firm’s meat, fish and poultry division was “the engine of growth” for the firm in 2010, recording a 5.7% increase in sales. The figure was boosted by expansion and the integration of fish production cooperatives, its said.
The dairy and cheese division, however, saw a 1.4% decline in sales for the year. Despite this, the firm said that activities with third parties in Switzerland and abroad, were “significantly strengthened”.
Negative inflation of around 2% and exchange losses on exports resulted in a 2.1% decline in sales for the firm’s bread, pasta and bakery products division.
The positive development of foreign operations resulted in a 0.8% improvement in sales for the chocolate and coffee division.
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