Savencia: stable OM in H1

(CercleFinance.com) - Savencia Fromage & Dairy has reported improved net income of E64m, with a stable operating margin before non-recurring items (MOC) of 3.
3% on sluggish sales (+0.1%) of E3.38bn.

Organic sales growth of 0.8% (including +0.2% for cheese products and +2.4% for other dairy products) and a positive structural effect of +1.9% were offset by a currency effect of -2.6%.

In terms of operating margin, the food group reported a recovery in sales of cheese products, but a contraction in sales of other dairy products penalised by persistently high milk prices and falling industrial ingredient prices.


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