French cheese giant Savencia Fromage & Dairy (formerly Bongrain) achieved a turnover of €4.4 billion for 2015, a like for like dip of 3.6 per cent, caused largely by the abundance of milk produced globally throughout the calendar year, LSA-Conso.fr reports.
The fall in turnover, LSA, suggests is not the byproduct of a fall in performance, but rather market forces and unfavourable exchange rates. Milk production increased in Europe, the US and Australia over the year, eroding some of the dairy company’s net revenue.
Furthermore, the EU-Russia trade embargo hurt Savencia’s export capacity.
In terms of its chesses, turnover stood at €2.6 million (a reduction of 4.4 per cent). Its Autres Produits Laitiers (Other Dairy Products) created a turnover of €1.9 billion (down 1.7 per cent).
© 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.