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Bonduelle LFL Turnover Grows 1.9% During Financial H1

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Bonduelle LFL Turnover Grows 1.9% During Financial H1

Tinned vegetable company Bonduelle recorded a turnover of €1.03 billion and grew 1.9% on a like-for-like basis, according to H1 results for its 2016-2017 financial year.

Its second quarter was weaker than its first, however, as the three months were ‘marked by a slowdown of economic activity in Europe at the end of the period, and a high comparison basis in Russia.’

In Europe, in terms of its canned operating segment, this slowdown was due to a reduction in advertising, driven by summer 2016’s reduced harvests.

Bonduelle said that in Europe, the frozen segment had positive growth, with a resurge of food service activity.

It added that ‘the fresh processed (delicatessen) and ready to eat (fresh-cut salad in bags) segment showed an overall stability in sales linked to an Italian market for fresh-cut salad in bags that continued to be difficult and the deterioration of production conditions in Spain (floods) at the end of the period.'

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The delicatessen segment saw a renewed positive growth in the second quarter.

Outside Europe, growth in turnover on a like-for-like basis reached 6.6%.

‘The increase in activity amounted to + 2.8% on a like for like basis in quarter 2 as a result of a high basis for comparison notably in Russia (anticipation of a price increase in January 2016) coupled with a consumption climate for this zone showing no real signs of recovery.

The North American market also experienced strong growth, particularly in Canada; in South America, the reposition of Bonduelle's canned range allowed the group to regain growth.

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Bonduelle extended its organic product offering in the US and several EU countries in September, which it said was a response to rising market demand for such SKUs.

© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Peter Donnelly. Click subscribe to sign up for ESM: The European Supermarket Magazine

 

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