Swiss food company Bell Food Group has reported improved operating performance in all areas of business in its financial year 2019.
The company attributed the progress to increased sales of products with higher added value, effective cost management, process optimisations, and partially passing on the higher procurement costs to sales prices.
The company's adjusted operational growth amounted to CHF 61.4 million (€57.82 million), up 1.5% on the previous year.
It generated sales revenue of CHF 4.1 billion (€3.86 billion), down 1.6% year-on-year. Adjusted EBIT for the period was up 6.0 % to CHF149.1 million (€140.40 million).
The food giant reported an adjusted annual profit of CHF103.5 million (€97.46 million), up 15.9% on the previous year.
The company's equity ratio was on a par with the previous year, at 47.5%, and amounted to CHF 1.3 million (€1.22 million).
Its financial liabilities declined to CHF 877.5 million (€826.31 million) from CHF 903.6 million (€850.89 million) during this period.
Board Appointment
The food giant has nominated Joos Sutter and Thomas Hinderer as new members of the Bell Food Group board of directors.
They will replace current board member and vice-chair Irene Kaufmann and board member Andreas Land, who have stepped down from their respective positions.
Outlook
The company aims to achieve operational progress in all business areas over the coming financial year.
Passing on higher procurement costs to sales prices will act as a decisive factor for its performance as raw material prices are expected to remain volatile in Europe, the company said.
© 2020 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.
