Bonduelle says FY sales exceed expectations | Progresiv
Bonduelle, the French canned and frozen food group, booked a dip in annual sales - but said underlying sales exceeded its expectations. The company reported total annual sales of 1.96 billion for 2015-16, 0.7% down on the 1.98 billion euros reported in the previous financial year. At constant exchange rates, sales were up 2.4%. Bonduelle said the growth exceeded its initial expectations of a 2% increase. 
Due to exchange rates, sales outside Europe dipped to 692.8 million euros compared to 700.6 million previously. However, at constant rates and excluding M&A, Bonduelle said sales increased 8.2%.
Sales in Europe were 1.27 billion euros after being flat at 1.28 billion euros in the last financial year. Bonduelle said the "virtual stability" did see "remarkable results recorded for the retail sales of branded products (Bonduelle and Cassegrain) in canned, frozen, fresh processed and in food service, with the return of growth in both volume and value for the frozen operating segment, giving rise to market share gains".
However, the group said the sales growth of branded products in Europe was offset by the lower sales volumes and price declines observed in the canned operating segment for private labels, a "segment where, given the current market conditions, the group has decided to restrict its activities".
The company closed its Russy-Bemont plant in France in June, in line with plans announced at the company's central works council last January to restructure its canned industrial facilities in the north of the country. (www.just-food.com)
