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Challenging Italian Yogurt Market Impacts Emmi’s First Half Profits
date:Aug 29, 2014
Swiss dairy group Emmi has increased sales by 3.1% to SFr1.63 billion (Eur1.35 billion) in the first half of 2014 but net profit after exceptional items decreased by 76.1% to SFr9.8 million with EBIT down 41% to SFr39.8 million. The drop in profitability was due to the difficult economic situation in Italy and the challenging conditions in the yogurt market, which necessitated an impairment charge on Emmis Trentinalatte business of SFr38.5 million.

Adjusted for non-recurring items, EBIT rose by

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