French co-op Euralis has reported mixed annual financial results – but did enjoy growth from its branded food business.
For the year to the end of August, Euralis booked a loss of EUR2m, compared to net income of EUR2m (US$2.5m) a year earlier. The co-op cited “exceptional items” including the devaluation of the Ukrainian hryvnia and the sale of a hemp processing unit. Operating income was flat year-on-year at EUR15m.
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Net sales dropped 6.5% to EUR1.23bn due to pressure on revenue from its grains business.
However, Euralis said sales from its food division increased 1.3% to EUR493m. It cited a 7.3% rise in fois gras sales under its Montfort brand.
Revenue from deli brand Qualité Traiteur grew 4.5%.
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By GlobalData
