Input costs have continued to hit Spanish meats maker Campofrio, with the company reporting a drop in profits for the first nine months of the year.

The company yesterday (14 November) posted net profit of EUR11.6m (US$15.7m) for the period to the end of September, down from the EUR26.8m recorded a year earlier.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Campofrio, which said its meat costs had been at “the highest level in a decade”, booked EBITDA of EUR109.5m, compared to the EUR116.5m reported a year ago.

Its margins in the third quarter fell 85 basis points year-on-year, although when the contribution of Fiorucci, the Italian group acquired in April, is included, margins were 21 basis points lower – and higher than the first and second quarters of 2011.

Fiorucci drove an increase in sales in the first nine months of the year. Consolidated net sales grew 10.6% to EUR1.47bn. Excluding the contribution from the Italian firm, sales were up 1.3% to EUR1.35bn.

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