BELGIUM: Forex weighs on Greenyard Foods sales
Foreign exchange hit Greenyard's sales
Foreign exchange has weighed on sales at Belgium-based frozen and canned food group Greenyard Foods.
The company, renamed after PinguinLutosa sold its Lutosa potato products business to McCain Foods, booked revenue of EUR462.5m (US$625.3m) for the nine months to the end of December, down 0.2% on a year earlier.
Canned foods sales were up 4.3% at EUR161.1m. However, revenue from frozen food, Greenyard's largest division, fell 2.4% to EUR301.4m thanks to changes in the value of sterling and the Brazilian real.
CEO Marleen Vaesen said: "We have achieved a reasonably stable sales value in the first nine months of the accounting year where negative exchange rate results neutralised the growth. Our expectations for the full accounting year remain unchanged. We also continue to build the foundations in order to achieve further growth in sales and profitability for the long term."
Greenyard is set to report its annual results on 20 May.
Click here for the full statement from Greenyard.
McCain Foods Limited - Strategy and SWOT Report, is a source of comprehensive company data and information. The report covers the company’s structure, operation, SWOT analysis, product and service off...
Synopsis Canadean's "McCain Foods Limited: Consumer Packaged Goods - Company Profile & SWOT Report" contains in depth information and data about the company and its operations. The profile contains a ...
Indian processed food company Mother Dairy will launch its first frozen snack - Aloo Tikki, a potato-based Indian delicacy - nationwide by the end of this year, a company executive has told just-food....
MarketLine's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organi...
McCain Foods India previously focused mainly on sales for out-of-home consumption, as the bulk of its business was contributed by quick-service restaurants, hotels and cafés, such as McDonald’s, KFC, ...
- Maspex: M&A opportunities in eastern Europe
- Why "simple" and "real" will be industry buzzwords
- The just-food interview: Bega Cheese CEO
- Nestle's 2014 results: 10 Things to Learn
- Why US Dietary Guidelines report deserves praise
- Gruma FY earnings surge as margins improve
- Kerry Group CEO expects more M&A in 2015
- UPDATE: Mondelez confirms Irish plant changes
- Glanbia FY profits beat analyst forecasts
- Danone's Stonyfield launches layered yoghurt