Ferrero Sees 8.2% Growth In Turnover And 54% In Profit
Italian confectionery manufacturer, Ferrero group, ended the year to 31 August 2016 with consolidated sales of €10.3 billion.
This represents an 8.2% growth on the same period a year earlier, when consolidated sales amounted to €9.5 billion.
Net profit also grew, at €793 million, up 54% from €514 million in the year to August 2015, according to company data published by the Radiocor Plus news agency.
The financial result was affected by currency changes and was a negative €137 million, an improvement of the negative €159 million in the previous year.
On 31 August 2016, Ferrero Group consisted of 86 consolidated companies in the world, with 22 manufacturing facilities. Ferrero products are sold directly, or through authorized distributors, in more than 170 countries.
The latest financial report from Ferrero does not include the two latest acquisitions – US company Fanny May (chocolate) and Belgium’s Delacre (biscuits).
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine