Movenpick swings into the black

Swiss restaurant and hotel company Moevenpick-Holding AG said Thursday it swung back into the black in 2005.This was helped partly by growth in its hotel business in the Middle East and its Marche International unit.

The company also said Chief Executive Officer Joerg Asshauer would step down and be replaced in May by Guido Egli, CEO of Moevenpick Fine Foods, following a group restructuring.