Fiscal Year (FY) 2016-2017 reflected solid organic growth both in terms of turnover and current operating profitability for the Bonduelle Group, despite operating in a challenging environment (sluggishness of the consumption in Europe, economic crisis in emerging countries and difficult harvests for 2016).
Over FY 2016-2017 (1st of July 2016 - 30th of June 2017), the group's turnover reached €2,288.1 million, an increase of 16.3% on reported figures. This performance reflects a solid organic growth (+ 2.7%), at the higher range of the announced target (+ 2 to +3%), a positive effect of currency fluctuations (+ 1.-%) and the consolidation of Ready Pac Foods as of the 21st of March 2017.
Europe Zone
The Europe zone, representing 55.8 % of this FY turnover, returned to growth which was up 0.2% both on reported figures and like for like basis, driven by a dynamic fourth quarter recording + 1.6%.
The lack of products due to the poor harvests observed in summer 2016 (cans and frozen) and early 2017 (fresh-cut bagged salads) was partially offset by a sunny spring promoting the consumption of canned corn and fresh prepared products.
Non-Europe Zone
The non-Europe zone recorded an increase of 45.9% based on reported figures and represents 44.2% of the turnover. This performance was fuelled by a solid organic growth which increased 7.1% coupled with a positive effect of currency fluctuations of + 3.1% and a +35.7% contribution from Ready Pac Foods over a quarter.
Source: globenewswire.com