FRANCE: Fleury Michon lowers FY sales forecast
Fleury Michon has lowered its FY sales forecast
French charcuterie and prepared meals manufacturer Fleury Michon has lowered its forecast for annual sales after it reported a fall in revenue for the first half of the year.
For the period ended 31 June, the firm reported revenues of EUR348.7m (US$467.7m), a 0.9% decline compared with the same period a year earlier.
Sales were impacted by a fall in sales in both its domestic and international markets.
However for the second quarter of the year the firm reported an increase of 1.8% in sales to EUR180.7m with sales up in all segments: charcuterie, prepared meals and surimi increasing.
The firm said it expects revenue to fall below the 4% growth figure previously announced due to "harsher than expected" economic conditions.
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