French prepared food and salad specialist Bonduelle has revealed its financial results for 2018/19, with results coming in flat across the board.
Revenue for the year-long period was stable at €2.77bn, in what was described as a "fragile consumption climate affecting several areas", with the net result rising by 0.3 per cent to €72.6m.
"The acquisition of the Del Monte brand, contributing to the revenue and profitability of this full year, coupled with the acquisition of packing and processing tools for the frozen segment in the US and in Russia confirm the ability of the group to selectively seize the opportunities offered in a very challenging economic environment," Bonduelle stated.
"In a context of ever volatile and sluggish consumption observed in several regions and adverse weather conditions, the Bonduelle Group is nevertheless once again demonstrating its resilience and the agility of its teams."
Bonduelle's fresh processed segment saw total consolidated revenue drop from €1.17bn to €1.09bn during the year.
Given the macroeconomic and geopolitical uncertainties, a lack of price increases or even decreases in France, a very hot summer that is unfavourable to crops and also a carryover into 2019/20 of the loss of customers in 2018/19, the group is expecting moderate revenue growth of 1.5 per cent to 2.5 per cent and a current operating profitability within the range of €115m-€118m.