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Siegfried Swings to Profit in First Half

6:45 AM MDT | August 25, 2011 | Deepti Ramesh

Siegfried (Zofingen, Switzerland) reported a net profit of SF2.4 million ($3 million) in the first six months of 2011, compared with a net loss of SF2.3 million in the year-ago period. Sales increased 28%, to SF173.8 million. The performance was largely due to significant increase in active pharmaceutical ingredients (API) sales, Siegfried says. “Despite the demanding economic environment that characterized the first six months of 2011, the Siegfried group returned to profitability and continued to make progress with strategic and operational...

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