FDBusiness.com

Profit Plunge at Bel Group

 Breaking News
  • UK Grocery Prices Rising at Fastest Rate in Four Years The latest grocery market share figures from Kantar Worldpanel, for the 12 weeks to 5 November 2017, show UK supermarket sales have increased in value by 3.2% year-on-year in the run up to Christmas. Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel, explains: “Volume sales have increased by less than 1%, meaning it’s [...]...
  • Alcohol Minimum Unit Pricing to Go Ahead in Scotland The UK Supreme Court has ruled that minimum unit pricing for alcohol, which was passed overwhelmingly by the Scottish Parliament in 2012, can now proceed. Scottish Health Secretary Shona Robison has welcomed the decision and confirmed she intends to make a statement to Parliament shortly, setting out the Scottish Government’s next steps. Following the unequivocal backing [...]...
  • GEA Brings Together Technologies to Supply Extended Production Line For BMI GEA has recently been selected to supply an extended pasta filata cheese production line for BMI in Jessen, Germany. With this exemplary project GEA brings together its joint cheese-making expertise, resulting from its acquisition of de Klokslag and CMT in 2014 and 2015 respectively, with GEA’s flow and processing experience to provide a single offering for this [...]...
  • Bosch Packaging Technology Wins German Design Award 2018 The Sigpack VPF (Vertical Platform for Flat Pouches), the first freely scalable flat pouch machine from Bosch, has been honoured with the German Design Award 2018 in the Excellent Product Design category. The German Design Council presents the prestigious award on an annual basis. The German Design Award is the second prestigious accolade for the [...]...
  • Premier Foods Returns to Revenue Growth Premier Foods, the UK convenience food group, has reported group revenue of £353.3 million for the 26 weeks ended 30 September 2017 – an increase of 1.5% on the prior period – with Branded revenue in line with last year at £295.4 million while Non-branded revenue increased by 10.1% to £57.9 million. Group reported half year [...]...

Profit Plunge at Bel Group

Profit Plunge at Bel Group
August 29
13:18 2011

Despite uncertain conditions arising from geopolitical unrest in Africa and the Middle East, Bel Group increased sales by 4.7% to Eur1.22 billion in the first half of 2011. However, operating income at the French branded cheese producer declined by 35.5% to Eur90 million, impacted by sharp rise in raw material prices and the international geopolitical environment.

 

The increase in raw material prices also weighed on working capital requirement and led to net financial debt of Eur312 million at June 30th 2011, up from December 31st 2010. However, net financial debt represented 31% of consolidated equity at 30th June 2011, versus 35% at 30th June 2010. The group’s balance sheet thus remains very healthy.

 

Bel Group does not anticipate any improvement in market conditions in the second half of 2011, with raw material prices expected to remain high, economic and financial conditions likely to stay very turbulent and an unpredictable geopolitical situation. Against this unfavorable backdrop, the group will continue in its efforts to ensure volume growth, defend market share, further its policy of selective price increases, and strengthen plans to improve operating performance.

 

The group does not expect to see a recovery in operating margin in the second half of 2011 and anticipates a decline for the full year versus 2010.

 

Bel Group’s portfolio of cheeses includes international brands such as The Laughing Cow, Kiri, Mini Babybel, Leerdammer, and Boursin, as well as some 20 local brands. Bel Gtoup employs 11,300 people in some 30 subsidiaries around the world and operates 26 production sites.

About Author

colin

colin

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • November 28, 2017Fi Europe
  • December 4, 2017Plastics and Paper in Contact with Foodstuffs 2017
  • January 8, 2018RAI Exhibition
  • January 16, 2018Sival Plant Production Trade Show
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements