Switzerland's most popular underwear maker, Calida, has reported a good start to business this year.This content was published on May 7, 2001 - 11:37
Supplying around a quarter of the nation's underwear needs, the company revealed operating profit of SFr3.1 million ($1.8 million) over the first quarter of 2001, up more than 50 per cent.
Sales also increased, climbing 11 per cent higher to SFr54 million in the first three months of the year.
"Business is developing positively, but the measures introduced will take some time to impact fully on cost and income, so we expect 2001 to be another difficult year," the company said in a statement.
The canton Zurich-based group, known for both its nightwear and undergarments, said last month that it expected to return to profit within the next three years. Last year it lost SFr10.1 million.
Calida announced at the time that it was looking to cut production costs and simplify its production processes. It aimed for double-digit growth in its core markets of Germany, France and Italy.
swissinfo with agencies
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