Migros, the Swiss food manufacturing and retail group, today (13 February) posted an 8% rise in annual turnover for 2008.
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The company, Switzerland’s largest food retailer, booked revenue of CHF5.02bn (US$4.32bn), an increase of 8.3% on the year.
“The expansion of the customer base and the development of new concepts have led to organic growth of 5%, while the rest of the increase was attributable to increases in raw material costs that could not be offset by productivity gains,” Migros said.
Migros, which also has interests in chocolate and dairy production, said businesses throughout the group enoyed rising sales in 2008.
Revenue from Migros’s chocolate, coffee and biscuits business, which includes Swiss chocolate manufacturer Frey, climbed 3.4%.
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By GlobalDataSales from the company bakery, pasta and rice divisions rose 7.2%, while Migros boosted its dairy business in 2008 with the acquisition of Swiss cheese-maker Dörig Käsehandel.
Higher foodservice sales boosted turnover from meat, fish and poultry by 13.7%, Migros added.
