Deoleo Improves Margin But Sales Drop
Spanish food group Deoleo increased its profit margin by 12.9 per cent during the first quarter of 2016 compared to the same period in 2015.
According to Spanish website alimarket.es, the company saw its margin improve in Spain, Italy and the United States - its three main markets.
At the same time, however high costs and expenses (of €3.6 million in Italy) caused a 25.6 per cent drop in EBITDA and net losses of €9.9 million.
Deoleo recently put a plan in place to drive profitability and added value in its business, which is expected to be realised over the course of the coming year.
Deoleo's debt as of March 31 stood at €548.4 million, 4.4 per cent higher than last year's figure.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Gabriela Guédez. To subscribe to ESM: The European Supermarket Magazine, click here.