French cheese firm Groupe Bel has reported a dip in first-quarter sales amid challenging economic conditions in western Europe and the geo-political problems in the Middle East.
Bel booked a 0.9% fall in sales to EUR642m (US$827m) for the the first three months of the year. The company said it had also restructured its business in the early part of 2013, which meant some countries where now part of different regional clusters.
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Revenue in western Europe, its largest business, fell 2.3% to EUR249m. The Laughing Cow owner said “lacklustre” trading conditions hit consumer confidence and “dragged down” household spending.
Sales in Bel’s near and Middle East division were down 9%. It said the “geo-political turbulence” in the region meant some markets were difficult to access.
Elsewhere, sales in north-east Europe increased amid higher revenues in eastern Europe and Ukraine. Revenue from Bel’s combined Americas and Asia-Pacific arm and its Greater Africa division were also up.
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