Euralis reports growth from food division
Euralis, the French agri-food co-operative, has reported higher sales from its food division, helped by what the company described as the unit's "strategic activities".
For the year to the end of August, Euralis' food arm booked turnover of EUR502m (US$550.8m), an increase of 1.7% on the previous 12 months.
The co-op said the strategic parts of the division, which include foie gras brand Montfort and foodservice brand Rougié, saw sales rise 4.1%.
Euralis did not disclose the sales of the non-strategic elements of the division. The company had not responded to a request for comment at the time of writing.
The co-op did not disclose the division's profits. However, in its outlook for the 2015/2016 financial year, it forecast the "continued profitable growth of the food division with a return to break-even for the year".
Looking at the four strategic units of Euralis's food division, Montfort saw its foie gras sales to French supermarkets climb over 3%. The Rougié unit reported a 2.6% increase in sales, with sales in France up 3.9%.
Sales made by deli meats business Jean Staleven to butchers and caterers grew 4.8%. Euralis said a new production unit in Yffiniac should start production in the first quarter of 2016.
Group turnover reached EUR1.5bn, compared to EUR1.46bn in 2013/14. EBITDA grew 31% to EUR52.5m. The co-op made a net income of EUR2m, versus a loss of EUR2m the previous year.
- The key questions for digital strategists in 2017
- Unilever 2016 investor day - the top takeaways
- Wessanen's move for Spain's Biogran - analysis
- Whole Foods, Aldi, M&S - retail round-up, Nov 2016
- Burger King, Jollibee: foodservice focus, Nov 2016
- General Mills jobs to go in business revamp
- Verlinvest, China Resources invest in Oatly
- B&G acquires pasta sauce group Victoria Fine Foods
- Hain Celestial appoints Nestle executive as US COO
- Tyson sets up US$150m investment fund