Belgian produce giant Greenyard Foods has announced a decrease in first-quarter sales of 0.9 per cent, as currency fluctuations, including the weakening British pound, hit company revenues, Just Food reported.
In a statement the company revealed sales of €1.1bn in the three months to the end of June. Of the company’s different business segments, Long Fresh saw the largest drop of 4.9 per cent to €178m due to supply shortages as a result of last year's difficult harvest.
Although the Fresh sector reported a 0.1 per cent drop in sales to €906m, the company’s Horticulture unit saw revenue rise by 3.6 per cent to €25m.
Greenyard also announced that the transaction to acquire Mykogen, the Polish mushroom substrate supplier purchased from private equity firm Abris Capital Partners for €93m in June, was expected to be closed before the end of the year.
Greenyard recorded a fall in full-year net earnings for the year to the end of March to €0.7m due to "one-off'' costs.