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Siegfried Returns to Profits in 2011

7:44 AM MST | March 7, 2012 | Sotirios Frantzanas

Siegfried (Zofingen, Switzerland) recorded net profits of SF9.6 million ($10.4 million) in 2011, compared with net losses of SF4.2 million in 2010. Sales went up 4.4% in 2011, to SF328.1 million compared with SF314.4 million in 2010, Siegfried says. Ebitda increased 11.9% and Ebit more than doubled in 2011, to SF41 million and SF11.6 million, respectively, the company says. The results would have been more positive, but they were impacted by the strong appreciation of the Swiss currency, Siegfried says. Financial results for the fourth quarter of 2011 were not...

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