Russian food group Wimm-Bill-Dann Foods has seen revenue grow by 24.8% in the first nine months of fiscal 2008, the company revealed today (18 December).
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Revenue rose to US$2.19bn in the nine-month period ended 30 September, driven by strong baby food sales.
The company’s baby food business saw revenue rise by 61% to $191.6m, while it’s dairy unit reported an increase in sales of $1.6bn, up 23% year-on-year, while the group’s beverages business booked sales of $372.5, up nearly 20%. This growth was “all organic”, the company said.
Gross profit grew by 22.2% to $707m and EBITDA rose by 23.3% to $282.7m.
However, net income was hit by a respective tax charge and losses on currency conversion increasing by only 3.7% year-on-year to $109.6m in the nine-month period.
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“We continue to face significant headwinds created by a decline in consumer confidence in Russia and CIS, slower GDP growth, and unprecedented global financial turmoil,” CEO Tony Maher said.
Nevertheless, he continued: “We remain confident in our financial strength, our ability to execute, and our strategy for sustained profitability. Over the last several years, we have put in place a strong foundation, which, combined with the very nature of our business, will see us emerge even stronger from this uncertain period.”
