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In its semi-annual report Bossard celebrates the best six-month result in the company’s history. All of the Group’s three sales regions achieved double-digit sales growth, although the steep rise in the Swiss franc impacted negatively on development in the company’s reporting currency.

In local currencies six-month sales rose 14.6%, converting to Group sales in Swiss francs at 252.4 million. European sales were CHF143.5 million, up 13.7% in local currencies and 7.2% in Swiss francs. American sales totalled CHF66.8 million, up 16.6% in local currency but converting to a 2.3% reduction in Swiss francs. Sales in Mexico grew by 24.6%. Asian sales grew 14.6% in local currencies, generating CHF42.1 million, with China, India and Taiwan showing particularly high growth rates.

Gross margin fell slightly to 38.6%. Increased costs of raw materials, which could not be fully passed on, were reported as the prime cause and Bossard said: “The highly volatile foreign exchange situation and the development of raw material prices will present a major challenge in the second half of the year.”

The appreciation of the Swiss franc did, however, assist in achieving lower cost increases than sales growth, so the lower gross margin was off-set on the expense side. Consolidated net income for the six months was CHF 25.1 million, the best six-month result in the company’s history.

Bossard describes prospects as blurred in a climate of uncertainty, making it hard to determine the extent that economy in general and the Group’s business development in particular will be affected.