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Group turnover stable

Preserves and frozen products lower Greenyard's turnover

Greenyard Long Fresh, which deals with preserves and frozen products for this Belgian company, had a disappointing first quarter in terms of turnover. This was due to last year's dismal harvest. This was evident in the quarterly figures released by Greenyard. The group's year-on-year turnover ended was 0,9% lower on EUR 1,1 billion in the first quarter of the 2017/2018 book year.

Of the company's three divisions which comprise of fruit, vegetables, and potting soil, horticulture fared the best. Peltracom, the potting soil branch of the company, falls under this division. Horticulture's turnover rose with 3,6% compared to the same period a year ago. It ended on EUR 25,4 billion. In comparison to the Long Fresh and Fresh divisions, horticulture has the smallest contribution to the turnover figures.

The Long Fresh division's turnover fell by 4,9%. This is due to "shortages relating to last year's difficult harvest" as stated in a press release from Greenyard. This negative impact could not be offset by constant prices and price mix improvements. In addition, the foreign exchange rate had a negative impact of 0,9% on the turnover. The most important reason for this was the developments around the British Pound. The foreign exchange rate, in particular the British pound, had a negative effect of 0,4% on the total turnover.

Fresh realised a stable internal turnover that was 0,1% higher than the first quarter of last year. The turnover figures came out on EUR 906,2 million. On a comparable basis, this fell by 0,1%.

The company's Fresh division grew substantially, by 6,4%, in the previous book year. The total turnover also rose by 5,9% in the first quarter of the previous year. 
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