Fromageries Bel Group, the France-based owner of the Babybel and Laughing Cow brands, recorded consolidated sales of €731 million in the first quarter of 2016, a 2.4% increase on the previous year.
In Europe, the group recorded sales of €380 million for the quarter, a 3.3% decline on the previous year, which it said was due to 'lower industrial product prices and a negative foreign exchange impact'.
It added that in relation to its European operations, 'volumes remained steady during the period', resulting in 'a satisfactory performance given the lackluster economic environment still prevailing in most of the region's markets'.
Its Middle East & Greater Africa operations grew 8.6%, while its Americas, Asia-Pacific businesss grew by 10.9%.
Commenting on the year ahead, Fromageries Bel Group,said that "as the year unfolds, operations management remains tricky in a persistently low-visibility environment, clouded by economic and geopolitical uncertainties, and extremely volatile foreign exchange rates. Raw material prices have stayed at historically low levels in the first half of the year.
"Faced with these economic factors, Bel remains confident about its growth prospects owing to its strengthened operating excellence, the favorable geographical spread of its activities, the relevance of its products in its various markets, and the power of its brands."
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.
