Swiss meat processor Bell has warned that its first-half earnings are expected to come in 20% lower than in the year-ago period.
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“This is mainly attributable to the persistently high purchasing prices of raw materials,” the company was quoted by Reuters as saying. Bell said the price of pork had risen 10% in May and June alone.
The company, Switzerland’s largest meat processor, reported net profit of CHF19.5m (US$15.8m) for the first half of last year, on sales of CHF727m.
