SPAIN: Campofrio books Q1 profit increase
By: just-food.com | 12 May 2010
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Campofrio earned EUR3.8m in the quarter |
Spanish processed meat maker Campofrio Food Group has recorded an increase in first quarter net income.
For the three-month period the firm earned EUR3.8m (US$4.8m), an increase on the EUR0.4m earned in the prior year period.
The company also achieved a turnaround in its sales trend, increasing sales volume by 1.3% and reaching net sales of EUR430m in the quarter.
Campofrio said the improvement in the sales trend came thanks to a 5% growth in branded volume. This was noticeable in the company’s two largest markets, which saw branded volume growth of 13% in France and 8% in Spain in the first quarter.
EBITDA climbed 28% for the period to EUR34m, with a margin on sales of 7.9%.
“The company’s ability to substantially improve margins through continued productivity gains, combined with restored growth momentum, demonstrate its resilience even when faced with the current economic challenges,” the firm said.
Sectors: Chilled foods, Financials, Meat & poultry
Companies: Campofrio
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