Sales €262.1 million up 11% during Q2
Trading Update: Q2
• Net Sales €262.1 million up 11% for second quarter ending December 2007
• Satisfactory pro forma sales growth by 5% across all four core pillars of the
business
• Branded smoked salmon sales delivered very strong growth, particularly in
France
• Branded foie gras sales outperformed other duck related products, resulting
in strong growth for the Foie Gras and Duck pillar in general after
traditionally flat summer period
• All three product categories of the Blini and Spreadables pillar, covering
blinis, taramas and vegetable spreadable products, experienced growth
• Sales in the Prawns and Shellfish pillar showed very strong growth, both in
UK and in France
• Strong Euro against Pound Sterling negatively impacted the UK sales figures,
which would have been better by €2.7 million if the same exchange rate as last
year was applied. However, the exchange rate had a positive impact in relation
to purchase of Scottish salmon
• Adverse market conditions negatively impacted the sales of fish trading
activity but this category makes little contribution to the Group's
profitability
Xavier Govare, CEO:
“Given our festive range, our second quarter covering the Christmas season is a
very important period. We are very pleased by our sales results, which show a
continuing balanced growth across all four core pillars of our business, lead
by our high value branded products. Last year's acquisitions, particularly in
the French prawn market, delivered their expected contribution to this
continuous growth.”
See attachment for details.
