French agri-food business Fleury Michon has posted a 12.8% year-on-year increase in sales to €422.3 million in the first half of its financial year.
The company attributed its performance to necessary price adjustments and the recovery of its airline business.
Operating income improved compared with the first half of 2022 and is now comparable in absolute terms with the level of performance achieved in the first half of 2021, the company noted.
The company's investments in the first half amounted to €16.8 million, reflecting confidence in its business model.
Divisional Performance
The company's French unit reported generated a turnover of €358.7 million in the first half, up 11.4% year on year.
It maintained its leadership positions in markets that declined slightly in the first half of 2023 compared with the end of 2022.
Its international business unit, mainly involved in air catering from North America and Europe, saw turnover growth of 15.2% to €40.3 million.
Sales in the services sector posted growth of 36.2%, to €19.1 million, compared to the same period last year.
Outlook
Fleury Michon expects its financial situation to remain linked to its ability to quickly adjust the selling prices of its products to fluctuations in production costs.
It added that its economic environment remained highly uncertain, like the prices of certain materials and energy costs, which posted sharp increases during the first half of 2023.
Elsewhere, French agri-food group Avril has acquired a majority stake in HARi&CO, a company that makes plant-based ready meals and catering products from legumes.
The acquisition will help HARi&CO accelerate its business and allow Avril to strengthen its position in the market by expanding its food offer in the plant protein segment.
