Swiss food and hotel group, Mövenpick, has reported positive results for the first half of the year. Earnings before interest and taxes rose by SFr7.3 million to SFr12 million ($7 million).
Group sales rose by 7.7 per cent to SFr448 million with the total sales (including management and franchise operations) notching up growth of 5.7 per cent to SFr643 million. The net income before minority interests was SFr8.9 million.
In a statement, the company said "if the positive economic environment persists, Mövenpick remains optimistic, expecting good business in the second half of 2000 and higher profits than in the second half of 1999".
Global revenues from Mövenpick Premium Food Products, especially ice cream and coffee, rose by 29 per cent to SFr47.2 million. The company said sales in Switzerland were slightly weaker than last year, but that growth was recorded in the Asia-Pacific region.
The Zurich-based company's hotel business grew "encouragingly", according to Mövenpick. Revenues from own and leased operations grew by 19 per cent to SFr118.6 million.
"Thanks to operational progress, better occupancy rates at higher room prices, profit was improved," the company added in its half-year results statement.
It added that it was at present considering over 30 hotel projects.
Mövenpick, founded in 1948, became a limited company in 1956. It is one of Europe's largest restaurant, catering and hotel groups, and is expanding into other continents.
Its restaurants range from self-service outlets to upmarket restaurants and wine-bars worldwide. Its hotels also span the spectrum, ranging from reasonably priced city hotels to five-star establishments and resort hotels. The company also distributes fine wines as well as premium ice creams and gourmet foods.
swissinfo with agencies
In compliance with the JTI standards