French vegetable, jam and frozen food producer Bonduelle today (4 August) said that sales for the company’s fiscal year dropped due to the continued downward trend in prices in the euro zone.
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Bonduelle said full-year sales dropped to EUR1.196bn from EUR1.2bn posted last year. Sales in the euro zone dropped more sharply, by 2.2%, to EUR160m.
“These figures reflect a difficult consumer environment and a euro zone food market in deflation,” Bonduelle said in a statement.
Like-for-like jam revenue was up by 1.2% at EUR574m, frozen food revenues fell by 3.4% to EUR277m and fresh food sales increased by 0.3% to EUR345m.
However, the company predicted improved 2006/07 sales, boosted by recent acquisitions including a 23% stake in Canadian company Aliments Carriere. It said these acquisitions should have a positive impact on full-year results.
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By GlobalData
