Bongrains outlook for 2013 remains very dependent on "unstable macroeconomic factors"

Bongrain's outlook for 2013 remains very dependent on "unstable macroeconomic factors"

French cheese maker Bongrain has booked an increase in first-quarter sales thanks to good growth in its other dairy division.

In the three months to the end of March, group revenues climbed 2.6% to EUR1.02bn (US$1.34bn).

Other dairy product sales increased 5.8% to EUR403.5m in response to sustained activity in all of Bongrain's markets. Sales in its cheese division edged up 0.9% to EUR642.3m as a result of international development, the company said.

"The group's outlook for 2013 as a whole remains very dependent on unstable macroeconomic factors and their consequences for consumer demand," the company said. "Dairy raw material prices are expected to rise significantly in the short term."