NETHERLANDS: Brands boost Wessanen Q1
Dutch food group Wessanen has reported higher underlying first-quarter profits, helped by improved sales from its brands and by last summer's acquisition of organic and Fairtrade firm France Alter Eco.
Wessanen today (25 April) booked a net profit of EUR5m (US$6.9m) for the three months to the end of March, down slightly from EUR5.1m a year earlier.
However, its bottom line was affected by losses from discontinued operations. Profit from continuing operations grew from EUR4.7m in the first quarter of 2013 to EUR5.6m.
EBIT was up 24.3% at EUR9.2m, Wessanen, which sells brands including Bjorg, Kallø and Whole Earth, said.
The higher underlying earnings came on the back of improved sales. Revenue was up 4.3% at EUR129.6m.
Branded sales jumped 8% to EUR109.9m. Revenue from brands increased 4.1% on an organic basis. Alter Eco, bought last year to bolster Wessanen's presence in organic food, added four points of growth.
Wessanen said "core brands" performed well, driven by the likes of Zonnatura and Tartex. The company's "tactical brands" saw sales slide, although the group said that was due to "deliberate actions" to improve profits.
Shares in Wessanen were up 2.67% at EUR4.11 at 13:21 CET.
Royal Wessanen NV (Wessanen) is a Netherlands-based developer, producer and distributor of natural and specialty food products. It offers health foods and premium taste foods such as organic, vegetari...
The report provides a review of the mergers and acquisitions (M&As), partnering deals, and agreements entered into by companies active in the global syrups & spreads market during February 2014....
The report provides a review of the mergers and acquisitions (M&As), partnering deals, and agreements entered into by companies active in the global prepared meals market during February 2014....
The report provides a review of the mergers and acquisitions (M&As), partnering deals, and agreements entered into by companies active in the global bakery & cereals market during February 2014....
- How brands are eyeing their own retail presence
- Why Lactalis could move for Dairy Crest
- Who could swoop for Diamond Foods?
- The consistent inconsistency of European promos
- Indonesia – How ice cream makers can drive volumes
- Nestle, R&R Ice Cream in joint venture talks
- How the food industry is reacting to TPP
- China implements new safety regulations
- Unilever acquires Italian gelato group Grom
- Mondelez 'preparing to sell European cheese unit'
- Management briefing: just-food’s industry outlook for 2015
- Global Savory Snacks Market: Merger and Acquisitions August 2015
- Danone SA : Consumer Packaged Goods - Company Profile, SWOT & Financial Analysis
- E-Grocery Market in India - Market Research 2015-2019
- Food and Beverage Coding and Marking Equipment: Market Outlook 2015-2019