FrieslandCampina has booked a high double-digit increase in earnings, boosted by higher sales and an improved product mix.
The Dutch dairy group booked a 17.1% increase in first-half net profit this morning (29 August). Profit rose from EUR140m (US$185.2m) in the first six months of 2012 to EUR164m in the first-half of this year. Operating profit increased from EUR220m in the first half of last year to EUR275m this year.
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The company said that profits were bolstered by an 8.5% increase in sales, which rose to EUR5.52bn. The bottom line was also aided by higher sales of more profitable value-added prodicts, FrieslandCampina suggested.
CEO Cees ‘t Hart said that the company achieved a “good result” in the first six months of 2013, but warned that there remain challenges ahead. “FrieslandCampina must… find an appropriate way to deal with the consequences of lagging consumer spending in Europe,” he commented.
