FrieslandCampina has booked higher sales and profits as the Dutch dairy giant benefited from an increased focus on infant nutrition and branded cheese.
The company booked a 26.9% increase in profit to EUR274m (US$357m) for 2012. Operating profit was up 19.6% at EUR482m.
The improved earnings came on the back of a 7.1% rise in revenue to EUR10.31bn. FrieslandCampina said a “shift in volume” from commodities to “growth categories” like infant and toddler nutrition, dairy-based beverages and branded cheese helped sales.
FrieslandCampina said sales were also boosted by its acquisitions of a majority stake in Philippines firm Alaska Milk Corp. and of a Belgian cheese business from The Irish Dairy Board. Foreign exchange also contributed a 1.4 percentage point increase to sales.
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