Bonduelle sees Q2 slowdown
Bonduelle, the French vegetable processor, saw sales slow in its second quarter but stressed its first-half top line performance remains "in line" with its objectives.
Bonduelle, the French vegetable processor, saw sales slow in its second quarter but stressed its first-half top line performance remains “in line” with its objectives.
?For the first six months of the year, Bonduelle reported a 1.4% increase in group sales to EUR1.03bn (US$1.11bn). Growth was supported by the performance of Bonduelle’s businesses outside Europe, where sales increased 5.3% offsetting a 0.9% drop in sales within Europe.
Bonduelle stressed the growth in its first-half turnover was “in line with the annual objective”. The company has targeted annual sales growth of 2-3%.
However, Bonduelle did note a slowdown in the second quarter, when sales decreased 0.5% at current exchange rates. Revenue fell to EUR545.8m in the three-month period, Bonduelle revealed. The company attributed the drop to a slowdown in economic activity in Europe – where sales fell 2.4% in the period – and tough comps in Russia.
Bonduelle said it expects to confirm its target of “a stability in the operating result” at constant exchange rates when it delivers its full half-year results at the beginning of March.
