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Savencia Posts 1% Organic Growth For September

French cheese-maker Savencia has posted organic like-for-like growth of 1% for September 2016, the company said in a release last month.

During this period, the company’s net sales dipped 2.1%, in the context of a negative foreign-exchange factor of −3.1%.

The euro strengthened against the Argentinian peso, the Brazilian real and the Chinese renminbi for the month-long trading period.

‘Like-for-like, cheese product net sales gained 1.0% thanks to positive volume-mix impacts during the third quarter,’ the company said. ‘Our strategic brands have been reinforced over all geographical zones, with the exception of Latin America currently suffering from economic conditions directly impacting consumption.’

For its ‘Other Dairy Product’ portfolio, third-quarter activity compensated somewhat for decreased world prices for industrial products.

Because of a 'serious situation in France compensated by a favourable international performance,' Savencia’s 2016 first-half sales figures were down 4%.

© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Peter Donnelly. To subscribe to ESM: The European Supermarket Magazine, click here.

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