Bonduelle: FY underlying OP up 14%

(CercleFinance.com) - Bonduelle has reported a net loss of E119.
8m for FY 2023-24 (ended June), compared with a profit of E14.5m a year earlier, while operating profit before non-recurring items (OI) rose 14.3% to E75.3m.

Its operating margin before non-recurring items thus stood at 3.2%, as reported, higher than the target announced at the start of the financial year, thanks to proactive programs to improve industrial efficiency and strict control of overheads.

The food group's sales fell by 1.4% to E2.37bn, but rose 2.7% LFL, with growth in canned (+6.1%) and frozen (+10.3%) products offsetting a decline in fresh products (-3.3%).

Regarding its outlook, Bonduelle will pursue its transformation program, and has set itself the target - for this transitional year - of stable sales and operating profit on ordinary activities - both LFL.


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