Italian importer and distributor of fruit and vegetables Orsero Group ended the first half of 2017 with net sales of €473.4 million, up 40% compared to the same period last year.
Net profit doubled to €20 million, compared to the €11.37 million achieved in the first half of 2016.
The H1 results include the effects of the group's recent acquisitions, including Tuscan companies Fruttital Firenze and Galandi, and Spanish group Hermanos Fernández López.
Performance Factors
Orsero says that its turnover depends significantly on sales to both mass distributors and traditional wholesalers. In particular, turnover from distributors represented approximately 55% of the group’s total turnover (up from 53% in H1 2016).
The results in the first half of the year were affected by weaker performance in the group's import and shipping segment. This was partly tied to the falling profitability of its banana business, and above all by a decline in transported volumes, coupled with a marked increase in the cost of fuel and problems encountered in ports.
However, the profitability of the distribution segment remained stable, thanks to strong performance in Italy, offsetting the lower profitability of activities in France and in Portugal.
Orsero is a leading importer and distributor of fresh fruit and vegetables. It operates on a globally and, in particular, between Central America, South America and the Mediterranean.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine.
