FRANCE: Poor Bongrain cheese sales hit Q3 results
The French cheese maker Bongrain has reported a static third quarter, with a year-on-year advance of just EUR8m (US$10m) on its year to date sales of EUR2.43bn, as of 30 September.
In part, these results reflect changes in the global structure of Bongrain, which has seen a reduction in the importance of cheese to its total sales mix. Bongrain cheese brands include: Elle et Vire; Bresse Bleu; Coeur de Lion; St Agur and Tartare.
The group sold off its stake in Slovak partner Wittman during the third quarter of 2005. In March this year, Bongrain also sold its Australian subsidiary Lactos to National Foods.
The revenue stream from Corman Miloko (Ireland), its joint venture with Glanbia, through its Belgian subsidiary Corman, only partially fills the gap. Meanwhile in France, sales of cheese during the third quarter have been slow, holding back sales volumes significantly. Sales of other dairy products have maintained steady progress, so Bongrain is doing better from the protein end of the dairy product spectrum than from fats.
Ireland's largest producer of milk and dairy products has posted a 9% rise in profits for 2006 thanks to strong overseas sales. The company predicted growth of at least 10% in the coming year....
Dairy group Glanbia has announced the sale of its 25% interest and GBP35m (US$68.96m) interest bearing loan notes in The Cheese Company Holdings Limited (TCCH) to majority shareholder Milk Link Limite...
Glanbia Foods today (6 September) posted a 5% decline in operating profit due to increased costs and difficult market conditions....
International consumer foods and nutritional ingredients company Glanbia has acquired bar and beverage group Pro-Fibe Nutrition....
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