When the time for statement of accounts for food groups came, the French brand Bonduelle took stock of the first quarter of its non-calendar fiscal year, which started in early July. As a result, the company, which specializes in industrial processing and vegetable preserves, saw its turnover drop by 1.2% over the period, to reach 682.1 million euros [773.3 million USD].
The company explains this underperformance by the negative impact of exchange rates: in the Europe zone, Bonduelle’s turnover reached 2.29 billion euros [2.59 billion USD] in 2017 and its growth in sales increased by 0.6% to 315.1 million euros [357.2 million USD], nearly half of the group's total sales over the period.
In addition to this, Christophe Bonduelle, the current director of the company, reported that the company benefits from a dynamic in Canada, thanks to the acquisition of Del Monte in 2017. The fruit and vegetable sales of this entity were integrated at the beginning of July into the food group’s turnover. The integration of these activities contributed 1% to total revenue growth.
With its catalog of brands such as Cassegrain, Globus, Arctic Gardens and Ready Pac Foods in addition to its parent brand, Bonduelle has confirmed its annual growth objective. Indeed, the French group is aiming for a revenue growth of about 2.5% and a current operating profitability of +/- 5%.