Swiss dairy group Emmi has posted first half net profits of CHF20.5m (US$16.58m), the company revealed today (25 September). Emmi said that profits remained flat as lower sales in its home market was balanced out by increased export demand.
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Emmi reaffirmed its full year guidance. “The Emmi Group … continues to anticipate growth of 15% and a profit margin of 2-2.5% for the year as a whole, in line with its targets,” the company said.
Emmi said that growth in the first half of the year had been driven by the integration of a newly acquired business, increased demand in export markets for fresh products and a strong performance at its cheese business. However, sales in Switzerland came under pressure from difficult market conditions there, the group said.
