Bonduelle sees growth accelerate

Bonduelle sees growth accelerate

Bonduelle, the French vegetable processor, said today (4 February) its sales accelerated in the second quarter of its financial year thanks to a step-up in international growth. 

The company's total like-for-like sales growth in the second quarter was 4.1%, up from a rise of 0.9% in the first quarter. Expansion was fuelled by "strong" growth outside of Europe, with sales in the non-Europe zone up 11% in the three month period. 

The increased pace of growth in the second quarter lifted Bonduelle's first sales for the six months to the end of December. For the half, sales rose to EUR1.01bn (US$1.12bn), up 2.6% on a comparable basis. On a reported basis, however, sales saw a "slight" downturn dropping 0.7% due to the negative impact of currency exchange. 

Commenting on the result, the company said: "In a highly demanding environment, both in western and eastern Europe, the Bonduelle Group nevertheless recorded another six months of solid growth in line with its annual objective."

Bonduelle added it expects to refine its full-year profit outlook when it delivers its full results for the first half at the beginning of March. 

In a separate announcement, Bonduelle revealed it has inked an agreement to sell its 50% stake in Ultracongelados de la Ribera (UCR), a joint venture with frozen food group Ardo