Bongrain posts 7.4% fall in full-year 2009 net sales

The unfavourable economic environment of 2009 resulted in a fall of 7.4% on a like for like basis in the group’s net sales compared with 2008.

Sales of other dairy products were severely impacted by the fluctuation in world prices for industrial products.

The positive level of cheese product sales noted at the end of September 2009 was maintained in most of the group’s markets throughout the fourth quarter. For 2009 as a whole, the fall in net sales essentially reflected price reductions in turn reflecting the fall in raw material costs outside of France.

Fromapac (France) has been fully consolidated since the second quarter of 2008, but its impact isn’t material.

The weakening against the euro of the currencies of the countries of Central and Eastern Europe was offset by the gain in the dollar.

The group’s financial statements for 2009 will be published on 11 March 2010.

Source: Bongrain