Fleury Michon’s profits almost tripled in fiscal 2009 as margins returned to 2007 levels and the French deli group saw an operational improvement at its Canadian subsidiary.
After posting weak 2008 results last year, Fleury Michon yesterday (13 April) revealed that its business was back on form when it booked an increased in net profit, which rose from EUR5.4m (US$7.4m) to EUR14.8m.
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The company said that the improved performance came on the back of higher margins and sales. Revenues in the period increased 5.9% to EUR532m and international sales rose 14.4%.
The company emphasised that its Canadian business, which accounts for 20% of sales, had returned to profitability in the fiscal.
In the first quarter of this year, Fleury Michon has seen turnover increase by 11.5% year-on-year, rising to EUR137.6m, the group added.
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