The Bonduelle Group's turnover stands at € 458.4 million for the third quarter of FY 2013-2014, a growth of + 5.6% on a like for like basis* and + 1.5% after adjustment for currency exchange rates.
This acceleration in growth of the group, achieved despite an unfavourable calendar effect (Easter falling in the fourth quarter) and an economic, geopolitical, ever-changing and unsettled climate, allows to report an increase up by + 5.1% on a like for like basis* and by + 1.1% on reported figures for the first 9 months of FY 2013-2014.
Europe Zone
Despite an unfavourable calendar effect, the Europe zone (65 % of cumulated 9 months sales) posted positive growth of + 1.6%* over Quarter 3.
This improvement, when compared to last quarter (+ 1,-%), is driven primarily by a steady sales performance of the canned operating segment, both brand (Bonduelle and Cassegrain) and private labels and by the fresh processed segment returning to positive growth thanks to a significant recovery of the bagged ready-to-eat salad activity in Italy.
Conversely, the frozen activity remains affected by a gloomy food service sector that is offset, in part only, by an impressive growth of the frozen Bonduelle brand in retail sales.
Non-Europe Zone
In the non-Europe zone (35 % of cumulated 9 months sales), growth accelerated in Quarter 3, up by + 15.1%*, driven by a strong sales development in Northern America (frozen market expansion in the USA, sustained activity in Canada) and in Brazil over Quarter 3.
Eastern Europe continues to show strong growth despite a geopolitical context affecting the consumption climate.
Outlooks
The first nine months of activity and the success of the complete meal tray offer in "fresh snacking" allow to confirm the objective raised in February 2014 of achieving a turnover growth of + 4%, at constant exchange rates, and an all time high current operating profit of € 106-107 million, again at constant exchange rates.
