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Hochdorf says first-half results will be down

By Jim Cornall contact

- Last updated on GMT

Hochdorf said due to higher costs and depreciation the half-year result is expected to be significantly below that of the previous year.
Hochdorf said due to higher costs and depreciation the half-year result is expected to be significantly below that of the previous year.

Related tags: Switzerland, Milk

Switzerland’s Hochdorf Group has warned that its half year results are going to be worse than expected partly due to the challenges of integrating subsidiaries.

To address this, the board of directors of Hochdorf Holding Ltd has carried out an initial assessment of the situation together with the management.

The company said as a result of higher costs and depreciation – despite a currently satisfactory sales performance – the half-year result is therefore expected to be significantly below that of the previous year.

At the same time, the company said it is engaged with its most important stakeholders and the board will “sharpen the Group's strategy by the end of June and subsequently provide detailed information on its future plans and financial outlook.”

The Hochdorf Group achieved a consolidated gross sales revenue of CHF 561m ($555.6m) in 2018.

The company, established in 1895, employs around 700 people and its customers include the food industry and the wholesale and retail sectors.  Its products are sold in more than 90 countries.

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