date:Mar 27, 2014
, to the greater share of the international business, the margin for which is currently below that of the Group, but increasing. It was not quite possible to maintain the prior-year margin in Switzerland due to pressure on retail prices, import pressure and the current delay in passing on milk price increases, above all in the B milk segment.
Operating expenses increased in the 2013 financial year by 5.4 %, to CHF 819 million (2012: CHF 777 million) due to acquisitions. The rise in operating e