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.

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.