Bonduelle sales decrease in the second quarter

Bonduelle sales decrease in the second quarter

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.