Prepared vegetables firm Bonduelle Group has reported a 4% increase in revenue on a like-for-like basis in the third quarter of its financial year, driven largely by the performance of its Europe division.
After a 'steady' first half, like-for-like sales in Europe were up 9.4% in the period, with its canned, frozen and fresh prepared segments all on the increase, and its Bonduelle and Cassegrain businesses performing well.
In addition, its foodservice business continued its strong growth, helped by favourable comparatives, it said, while the fresh food business benefited from the recovery of the foodservice sector.
Bonduelle's Europe business represented 46.1% of its group revenues over the first nine months of the year.
Non-Europe Sales
In its Non-Europe business, which represents 53.9% of revenues, sales were down 0.5% on a like-for-like basis in the third quarter, with reported sales up 6.2%.
It said that its North America business benefited from the 'acceleration of the foodservice sector' in the period, while retail was down marginally on a like-for-like basis. The implementation of a new strategy to bolster the profitability of its fresh segment led to a decline in volumes, it added.
Remainder Of 2022
Looking ahead, Bonduelle said that it expects cost inflation to play an increasingly significant role in its operations for the remainder of the year, while also noting an 'uncertain health, geopolitical and consumer environment'.
That said, it reiterated its guidance of a 3% increase in business activity, targeting a 'stable current operating margin' for the full year.
On the Ukraine conflict, Bonduelle said that while it was maintaining its operations in Russia, it would allocate all profits from sales in the country to the future reconstruction of infrastructure and agricultural and food ecosystems damaged by the conflict in Ukraine.
Read More: Bonduelle Reports Like-For-Like Increase In Revenue In FY, Although Europe Declines
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