Perlen suffers from strong Swiss franc and lower paper prices
Despite higher sales volumes, CPH Group recorded a decline in sales and an EBIT loss in the first half of 2015.
All three divisions of CPH Group increased their sales volumes in the first half of 2015 over the same period last year. But with a weaker euro and lower paper prices, net group sales for the period fell by 18.0 % to CHF199.3m, with the EBIT slipping into the red at -CHF18.5m.
In addition to the weakness of the euro, the group’s Paper Division Perlen suffered from declines in paper prices, which could only be partially offset by higher sales volumes. And although expenditure was further reduced from its prior-year level, the division still posted a negative first-half EBIT result.