Sales of Groupe Bel’s flagship cheese products have partially offset a decline in revenues at the company’s industrial products business, the company has revealed.
In a regulatory filing on Friday (26 February), Bel said that 2009 sales edged up by 0.2%, rising to EUR2.22bn (US$3bn).
Go deeper with GlobalData
However, organic sales fell by 0.4%, the maker of Laughing Cow and Boursin said.
“The core activity of the group – the cheese brand – has experienced positive growth in sales that was not enough to offset falling sales of industrial products, strongly impacted by lower prices,” Bel revealed.
Targeted advertising supported sales levels in western Europe. However, revenues in the region were dented by increased levels of promotions and discounting as well as lower prices – resulting in a 5.3% drop in the region.
In contrast, the company’s international and Americas units posted growth of 15.2% and 14.3% respectively.
