The Bonduelle group has reported on high profitiability and turnover for the first half of fiscal 2014/15, despite what it has described as sluggish consumption in Europe.
Turnover came in at just over €1bn, up 3.1 per cent on last year's half-year result of €987.7m, while the French company recorded a record current operating result of €66.5m, growth of 12.4 per cent.
Ultimately, Bonduelle's net result jumped 30 per cent to €36.4m, while net debt was sliced by 20.4 per cent.
"Committed to its profitable growth model and its 2025 VegeGo! ambition, the Bonduelle Group recorded, over the first six months, a turnover increase of 3.1 per cent on reported figures and up 5.5 per cent on a like for like basis, as well as a current operating margin increase of 50 basis points (bp)," the group noted.
"Despite a consumption that remained fairly sluggish, the Europe zone improves its current operating margin, the Non-Europe zone still recording a high and stable current operating profitability in a strong growth environment. This solid economic performance, recorded over the first six months, helps to strengthen the financial structure of the group and its development capacity. Given these results, the group is reviewing its profitability growth objective upwards for full-year 2014/15."