Shares in French dairy group Bongrain fell today (8 November) in the wake of the publication of the company’s sales figures for the first nine months of the year.
After the market closed on Friday evening, Bongrain reported a 5.9% rise in organic sales for the nine months until the end of September.
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However, Bongrain warned that the economic uncertainty and fluctuations in commodity prices could affect the business in the fourth quarter of the year. Bongrain’s share price was down 1.3% at EUR56.82 at 14:30 CET today.
On a consolidated basis, including the impact of M&A, disposals and foreign exchange, Bongrain’s nine-month revenue was up 7.5% at EUR2.55bn (US$3.55bn).
The nine-month results included the contribution of Romanian dairy Delaco, which was integrated into Bongrain’s business from the start of September.
Consolidated sales of cheese products rose 5.7% to EUR1.75bn. Sales of Bongrain’s “other dairy products” – which includes dairy ingredients – climbed 9.2% to EUR859.1m.
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