Swiss meat processor Bell has warned that its first-half earnings are expected to come in 20% lower than in the year-ago period.

“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.