Fromageries Bel: net income, group share down 53.3%

(CercleFinance.com) - Fromageries Bel's FY 2018 sales reached 3.
312 billion euros, compared with 3.346 billion euros in 2017, down 1%.
However, FY organic growth reached +1.5%.

Operating profit fell 25.7% to 160 million euros. Meanwhile, 2018 net income, group share came in at 96 million euros, compared with 180 million euros in T2017.

The company will continue with its transformation in 2019, aiming to cut costs by up to 120 millions euros by 2020, through improvements in productivity and through optimising its advertising expenditure and promotions, in order to reinvest up to 40 million euros of these savings to support acceleration in growth, management said.



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