French cheese maker Bongrain has booked an increase in sales and earnings for fiscal 2012, boosted by the contribution from acquisitions.
The group said net sales rose 2.6% to EUR4.08bn (US$5.3bn), with organic sales up 0.5% and the acquisitions of Milkaut and Sinodis adding 1.4 percentage points to the top line.
Operating profit rose to EUR132m, up from EUR107.9m in 2011. The company said the improvements were the result of a better product mix and growth in dairy and cheese businesses outside Europe. These gains were partially offset by rationalisation costs and impairment losses in Spain. “In several European markets, cheese products suffered from the crisis situations,” the group added.
Net profit rose 45% in the year, climbing to EUR63.6m.