Belgium-based frozen-food group PinguinLutosa has recorded a 9% rise in third-quarter revenue as sales growth accelerated from the first half of the year.
The company booked a 9.4% increase in sales to EUR117.2m (US$163.2m) for the three months to the end of September. Sales from its potato division grew 13.4% to EUR60.1m, while sales of deep-frozen vegetables were up 5.6% to EUR57m.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
“Both in the deep-frozen vegetable and the potato division the good growth of the first semester was strengthened during the third quarter of 2010,” PinguinLutosa said today (28 October).
“Traditionally, the second half of the year is more important than the first half. This is specific to the sector. This seasonality is strengthened by a favourable change in the market conditions. Consequently, PinguinLutosa expects that the second half will be significantly better than the first half.”
Two weeks ago, PinguinLutosa announced it had finalised its plans to take control of the deep-frozen vegetable business of French co-operative Centrale Cooperative Agricole Bretonne (CECAB).
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
