Profits sparkle at mineral water company but sales decline
The Henniez mineral water and beverages concern says sales were down almost eight per cent last year at SFr144.1 million but net profit soared by 46.5 per cent to SFr3.75 million.
In its annual report, the company says that the 1999 business year can be described a "satisfactory". However, it singles out the "excellent" performance of its Virgin ice tea which was launched in January 1999.
The company explains the falling turnover by "disappointing" weather conditions and the end of its contract with the Lipton brand.
Henniez says that the higher profit was the result of lower costs, in particular for packaging. Group production costs went down by 15.5 per cent to SFr17.94 million.
Shareholders will be asked to approve an unchanged dividend of SFr55 per share.
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