Emmi reports improved sales in 1H 2012

Emmi’s group-wide sales growth increased by 2.2% to CHF1.3 bn, with remarkable international growth seen of 18.4% to CHF433.9m, in the midst of “the tense situation in vatious European markets, pressure in the euro zone and the associated volatile consumer sentiment,” the Swiss firm’s first half 2012 report says. Net operating profit increased by 11.4% to CHF 39.3m and net operating profit margin  improved by 2.9%, “very pleasing.”

That being said, Emmi’s home country of Switzerland saw sales decline by 4.1%, but there were still considerable gains with its Caffe Latte products. Cheese exports grew, and overseas divisions such as Onken yogurt in the UK saw growth “at the upper end of expectations.” The company suffered declines with private label products, particularly in the low margin area.

Plans are on track to increase the company’s international growth to make up 50% of the company’s sales. “The recent acquisitions of Kaiku and Diprola will increase the international share to some 40% by the end of 2012,” Konrad Graber, Emmi’s chairman of the board notes.