Fromageries Bel: Q1 sales down slightly
(CercleFinance.com) - The group reported Q1 2019 consolidated sales of 810 million euros, down very slightly (-0.
4%) compared to 813 million euros in Q1 2018.
The FX effect is mainly due to the dollar's appreciation against the euro. Therefore, Q1 revenues fell by 2.6% in organic terms over the quarter.
"Steering the course of operations remains complicated in an uncertain environment. Reaching a historically high level, raw material prices continue to weigh on operating margin," the group said.
"Implementing the transformation plan to accelerate its growth remains Bel's priority, notably in the areas of industrial productivity and operating efficiency," management added.
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