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Bonduelle Returns to Growth

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Bonduelle Returns to Growth

August 04
08:47 2011

Reflecting the impact of the integration of acquisitions and favourable currency exchange rates, Bonduelle has increased turnover by 10.7% to Eur1.73b for the year ended June 30th 2011. The French vegetable processor expects operating profits of between Eur78m and Eur81m for its 2010-11 financial year.

 

The successful integration of France Champignon for the full year (against three months in 2009–10) and the transfer of the Belgian processed apple business in January 2010, as well as the changes to exchange rates have had a positive impact on turnover of 7.7% and 2.4% respectively. The highlight of the financial year was the revival of the group’s business with sales growth of 0.6% (at constant exchange rates) against a 2.2% decline in the previous year ended June 30th 2010.

 

However, adversely affected by the price reductions on distributor-brand products, the shortages of certain products following the very poor harvest of summer 2010 and the delayed deliveries in Eastern Europe, business in the fourth quarter recorded negative growth of 2.8% (-2.1% at constant exchange rates).

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