A fall in global listings and a sharp increase in milk prices had an adverse effect on profits at French dairy group Bongrain.


The company yesterday posted a 77% drop in net income for 2008. Net income fell to EUR38m (US$48m) – a significant drop from EUR161.7m in 2007.


Operating income was also down, reaching EUR86.5m – a 43.3 % drop on last year’s result.


Turnover however, was up 4% to reach EUR3.55bn and Bongrain insisted it had “held up well in a difficult economic environment”.


“The decline in global listings of industrial products has not yet been fully reflected in the price of milk,” the company said. “This situation, compounded by the lack of visibility and volatility of ratings, does not predict an improvement in short-term exploitation.”

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Bongrain said net debt remains under control at 34.4% of equity at 31 December 2008 against 31.5% from the previous year.

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now