The maker of Babybel Cheese, Bel Group has posted a 0.4% year-on-year drop in consolidated sales to €810 million in the first quarter of its financial year.
The company also witnessed a 1.3% growth in organic sales during the quarter in new territories, particularly in the United States, where its product offering was tailored to meet evolving consumer trends.
Regional Impact
In Europe, the Middle East and North Africa, the decline in consolidated sales resulted from a decrease in volumes, the company said. There was an organic sale decline of 3.3% during the period.
The shift in the Easter holidays from March in 2018 to April in 2019 also had an unfavourable calendar effect that negatively impacted sales in France and the United States.
Outlook
The company will focus on implementing its transformation plan, announced in the fourth quarter of 2018, to accelerate growth in the areas of industrial productivity and operating efficiency.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.
