GENEVA, SWITZERLAND – Nestlé Group in Vevey finished 2012 with sales up 10.2 percent, with organic growth of 5.9 percent, in line with expectations. The world’s largest food company sold CHF92.2 billion in products last year. Growth was strongest in Asia, Oceania and Africa, the company reports. Net profit was up CHF1.1b to CHF10.6b, and [...]
Swatch sales top CHF8b, forecast 5-10% annual growth
February 4, 2013 by
Watchmaker forecasts 5-10% growth annually for long-term GENEVA, SWITZERLAND – The Swatch Group in Biel/Bienne says its sales topped the goal of CHF8 billion in sales in 2012, a 14.14 percent increase and CHF1b more than in 2012, in a market the company labelled “extremely nervous”. Net income was CHF1.6 million, a 26 percent increase [...]
HP to lay off 27,000
May 23, 2012 by
GENEVA, SWITZERLAND – Hewlitt-Packard, which has its Europe-Africa-Middle East head office in Meyrin, Geneva, announced Wednesday from its head office in California that it expects some 27,000 employees, about 8 percent of its global workforce “to exit the company” by the end of 2014. Details about where the job cuts will take place have not [...]
Credit Suisse’s Q4 slide into the red worse than expected (update)
February 9, 2012 by
ZURICH, SWITZERLAND – Credit Suisse Thursday 9 February reported a net loss of CHF637 million for the fourth quarter of 2011, significantly worse than many analysts’ expectations, according to Bloomberg. Full-year figures remained in the black, with net income of CHF1.95 billion, but the profit was down by 62 percent, compared to a net profit of [...]
Gold: Swiss central bank expects CHF13 billion profit
January 13, 2012 by
Taxpayers get CHF1 billion via federal, cantonal budget boosts ZURICH, SWITZERLAND – Swiss federal and cantonal budgets look set to receive some CHF1 billion from the Swiss National Bank, which expects to end 2011 with a profit of CHF13 billion. A little over one-third of the profit, CHF5b, is thanks to the meteoric rise of [...]
Swisscom up, Holcim down as mixed picture of Swiss economy sketched
November 9, 2011 by
ZURICH, SWITZERLAND – The picture of the Swiss economy at the end of the third quarter 2011 is mixed, with some companies suffering badly from the overvalued Swiss franc while others appear to be sailing through the year relatively smoothly. This week’s results of financial results continues to feed the mix. Swisscom shows net revenues [...]
Swiss Re doubles profits, but warns of Thai floods’ impact
November 3, 2011 by
ZURICH, SWITZERLAND – Swiss Re, one of the world’s largest reinsurance companies, has third quarter net income of $1.3 billion, a 118 percent increase over the same period a year earlier, the company announced Thursday 3 November. The strong performance was due to a combination of what the company calls “a moderate natural catastrophe experience [...]
Over-counter business brings down Swiss Post profits by 3%
November 2, 2011 by
BERN, SWITZERLAND – The Swiss Post group showed profits of CHF721 million for the first three quarters of 2011, the group said Wednesday 2 November. The figure is 3 percent lower than a year ago, with a dip in over-the-counter business accounting for the drop. Customer deposits were up with PostFinance, raising the operating result [...]
