French vegetable group Bonduelle posted a drop in full-year earnings today (7 October), despite a slight increase in group sales.
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Net income for the 12-month period dropped to EUR26.6m (US$39m) from EUR51.2m in 2008.
Current operating income however, amounted to EUR101.7m, an increase on EUR100.4m in the previous year.
The performance was achieved by maintaining trading margins, the company said, and “significant efforts” in terms of costs and expenses, to adapt the company to its environment.
After non-recurring items, operating profit fell to EUR99.3m from EUR98.6m last year.
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By GlobalDataBonduelle said it has demonstrated its “strong resilience in an adverse economic climate” by continuing growth and maintaining its operating margin and cash flow generation.
It also said it will continue its development both internally (industrial plants in Brazil and Ukraine) and externally.
