Fromageries Bel: towards a fall in operating margin
(CercleFinance.com) - Announced on Thursday night, Fromageries Bel's 2018 sales came in at 3,312 billion euros, very slightly down from 3,346 billion euros in 2017 (-1%).
However, FY organic growth reached +1.5%.
In Q4 alone, the group posted consolidated sales of 849 million euros, up 1.9%.
"Alliances formed among major retail food chains in Europe affected Bel's ability to pass on higher raw materials prices in its selling prices. Operating margin for the full year is expected to decline versus 2017," the group said regarding its 2018 earnings outlook.
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