Groupe Bel: 2019 sales up 1% in organic terms
(CercleFinance.com) - Groupe Bel announced on Friday evening 2019 sales of 3,403 million euros, up 2.
8% y-o-y, with organic growth of +1.0%.
"Organic sales growth for the year was driven by branded products, up 1.7%, in particular Mini Babybel, Boursin and GoGo squeeZ. Bel consolidated its competitive positions across all its products lines. Sales of industrial and unbranded products decreased 6.6%, penalized by low prices for surplus cream," it said.
In addition, over Q4 2019, consolidated sales reached 878 million euros, up 3.5%.
"Based on cost cutting and productivity efforts in industrial operations, Bel reiterates its expectations for significantly improved operating margin and strong cash generation thanks to tight cash management," Groupe Bel said regarding its outlook.
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