Euro held back Swiss firm - Company News - Huegli Holding's 2001 sales reported - Brief Article

Eurofood, Jan 31, 2002

Swiss food company Huegli Holding has reported a 7.2% sales rise to SFr192.7m (131m [euro]) for the year 2001, with the strength of the Swiss franc holding back further growth.

With Huegli doing around 75% of its business with firms based inside the European Union, the weakness of the newly launched Euro against the Swiss franc slowed down the sales growth. Huegli said it expected profit for 2001 to be similar to levels generated in 2000. In that year Huegli recorded profits of SFr9.1 m.

Huegli, which makes a range of soups, sauces, seasonings, frozen food and other products said, "The prospects for 2002 and following years continue to be favourable."