Lupfig, 18 April 2008 - The Hiestand Group, the internationally leading, Swiss-based service group in the field of deep-frozen convenience bakery products, was able to maintain the strong pace of organic growth in the first quarter of 2008. With an increase in sales of 12.8% to CHF 185.1 million (compared with CHF 164.7 million in the same period of the previous year), growth was even stronger than that of the first quarter of 2007 (12.3%).
Currency effects influenced the sales figures to only a minimal extent of -0.4%. The increase in turnover of 13.1% in the European segment was significantly above that of the previous year (12.3%), while development of the Asian markets was slower at an improvement of 5.1% (previous year: 11.6%). The reason for that development lies in the streamlining of the range of products and customers in Japan from which Hiestand anticipates a positive effect on profitability in the Asian business. Hiestand remains optimistic that the targeted organic growth of 8 - 10% in sales will be achieved in the current financial year.
The Hiestand Group is the internationally leading organisation in the field of frozen convenience bakery products and has national companies in Switzerland, Germany, Austria, Poland, Malaysia, Japan and Turkey. In 2007, the Group recorded sales of CHF 740.6 million. The innovative bakery products, the broad range and the comprehensive services for active sales promotion provide added value for B2B customers. Through the close-knit logistical and distribution network, assurance is given that products sold to customers are consistently "fresher than fresh". For Hiestand's quality bakery products, only natural ingredients are used. Hiestand Holding AG is listed on the SWX Swiss Exchange.