Bonduelle has said the French vegetable processor’s diverse geographic base, focus on brands and widespread availability of its products enabled it to navigate an “unpredictable” environment in the first half of its fiscal year.
The company reported higher like-for-like profits in the six months to 31 December, with comparable operating profit rising 7.3% on the back of a 30 basis point improvement in margins and sales expansion. However, currency exchange dented Bonduelle’s reported figures: total operating profit dipped 3.7% to EUR64m (US$69.5m), compared to EUR66.5m last year.
Net profit, however, edged up 0.5% to EUR36.6m on lower financial charges and the group reported lower net financial debt year-on-year.
On a reported basis, sales in the period dipped 0.7% EUR1.01bn. The company flagged the negative impact of the Russian rouble on the top line.
Bonduelle confirmed its full-year outlook. “Considering the performance recorded in the first half of fiscal year 2015-2016, the group confirms its annual objective of achieving an operating margin higher than the previous year at constant exchange rates,” the company stated.