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February 26, 2004

SWITZERLAND: Bell posts higher 2003 net profit

Swiss meat processor Bell has reported a rise in 2003 net profit, helped by cost cuts and higher sales.

Swiss meat processor Bell has reported a rise in 2003 net profit, helped by cost cuts and higher sales.

The company, Switzerland’s largest meat processor, posted a 6.9% rise in 2003 full-year net profit to CHF48.3m (US$38.2m). However, earnings before interest and tax fell 4.1% to CHF68.6m, reported Reuters.

Bell’s 2003 sales rose 2% to CHF1.54bn, boosted by last summer’s heat wave, which led to increased sales of meat for barbequing.

The company did not give an outlook for 2004.

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