French vegetable processor Bonduelle Group has booked an increase in full-year sales and profits, boosted by organic growth and acquisitions.
The company said sales rose 7.3% in the 12 months to 30 June, rising to almost EUR1.9bn (US$2.58bn). Acquisitions, including Cecab’s operations in Russia and Allens in the US, contributed 4.5 points to turnover growth. Organic sales were up 1.9%, compared to an organic growth rate of 3.1% in the previous year.
Operating profit increased 4.7% year-on-year, climbing to EUR105.6m. The company emphasised that represented its “highest” profitability level, with margins at 5.6% of sales. Margins were boosted by cost control measures on an industrial, commercial and administrative level, Bonduelle revealed.
The French group added the difference in profitability between Europe and non-euro zones “validates the group internationalisation strategy”.
Net profit increased 11.5% to EUR52.1m, boosted by lower financial costs.
Click here to view the full results release from Bonduelle.