Foreign acquisitions have helped convenience meats group Bell deliver record operating income for 2009.
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The Swiss group said today (12 January) that operating income reached CHF2.56bn(US$2.52bn), up 32% n 2008.
The growth in sales was attributed to the foreign acquisitions. In their first full year of consolidation, Bell’s foreign subsidiaries contributed some 31 % (CHF0.79bn) to group sales.
In Switzerland, all divisions report improved results for 2009.
Sales volumes increased 2% to 122.3 million kg, whilst operating income remained slightly below the previous year’s level – a consequence of, on average, 2.4 % lower sales prices.
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By GlobalDataBell said food consumption remained stable in spite of the decline in consumer sentiment and added that Swiss products and regional specialities were in high demand.
A shift away from mid-price to lower-price and more expensive product ranges was recorded, the company said.
“Outside of Switzerland, the unfavourable economic situation had a bigger impact on consumption, with the higher-price products bearing the brunt of the decline. This trend was countered by way of successful innovations and a broad portfolio of protected regional specialities,” the company said.
Its full 2009 group results will be published on 18 February.
