Surge in growth in 3rd quarter +7.6 % at constant exchange rates
In the third quarter of FY 2008-2009, the Bonduelle Group posted a turnover of 377.1 million euros, up 7.6 % at constant exchange rates (+4.3 % at current exchange rates), thereby confirming the growth in business recorded for the 2nd quarter of 2008-2009 (+5.3 % at constant exchange rates).
Breakdown of turnover by processing technology
Breakdown of turnover by zone
Highlights of the quarter included:
- The sharp increase in internal growth in canned-vegetable sales (+ 4.9 % at constant exchange rates), in both the Euro and non-Euro zones
- The positive impact, on the canned-vegetable sales, of the November 1 2008 incorporation of "La Corbeille" into the Group;
- The resistance of frozen-vegetable sales (+ 2.1 % at constant exchange rates), vitalized by dynamic sales in the North American territory;
- An upswing in the negative trend in chilled-vegetable sales (-4.4% as opposed to –11.1% in the 2nd quarter);
- Strong growth in sales in the non-Euro zone (+11% at constant exchange rates).
In the first 9 months of FY 2008-2009, the Bonduelle Group showed a turnover of 1,129.3 million euros, up 2.8% at constant exchange rates (1% at current exchange rates).
In a particularly dismal consumer climate--mainly in Europe, the Bonduelle Group has demonstrated the relevance of its portfolio-balancing policy in respect of operations and geographic zones.
Prospects
The joint venture with the Coopagri Group for the sale of private label frozen vegetables has been effective in Spain since April 1st and in France since May 1st 2009.
Benefiting from a favourable base effect in the 4th quarter, the Group is in a position to confirm its growth objectives for FY 2008-2009, with a level of operational profitability close to thatof the previous FY at constant exchange rates.