Emmi rises on H1 earnings beat

Emmi AG

18/08/2023 07:39

** Emmi  EMMN.S  shares are seen up 2.4% in Julius Baer
premarket trade after the Swiss dairy company released H1
results that beat earnings estimates 
    ** The group's H1 EBIT came in at 138.5 million Swiss francs
($157.6 million) and net profit at 97.8 million francs, beating
consensus by 14.4% and 11.6%, respectively, according to Credit
Suisse
    ** "Strong 1H results. Higher prices drove strong top-line
growth, albeit at the expense of volume growth," Vontobel
("buy") writes
    ** It adds that the disposal of Glaeserne Molkerei was the
right move and will improve the company's return profile
    ** Emmi's stock tops Switzerland's midcaps index in
premarket indications


($1 = 0.8786 Swiss francs)

 (Reporting by Tristan Veyet)
 ((Tristan.chabba@thomsonreuters.com))