Bonduelle's yearly profit drops after European antitrust fine

Bonduelle's yearly profit drops after European antitrust fine

French food manufacturer Bonduelle's yearly profits for its broken fiscal year 2013-2014 has dropped 70 %, mainly because of the huge fine Europe imposed because of price arrangements.

70 % lower profits

 

Bonduelle announced in August that it had an excellent year in 2013-2014 with turnover up 5.5 % to 1.92 billion euro, "better than the announced full-year forecast".

 

The European fine, regarding anti-competitive practices in the market of canned mushrooms, cast a huge shadow of the boastful news. The Dunkerque-based company has now announced its yearly profit dropped 70 % to 15.2 million euro.

 

"The net burden of non-recurring item stands at € 36.1 M and includes the fine imposed by the European Commission for anti-competitive practices in the market for the sale of canned mushrooms under retailer brand in Europe for an amount of € 32.4 M, procedural costs included", according to Bonduelle.

 

Canadian expansion

 

Bonduelle has also announced that the group's financial situation is still strengthening and that the "group's financial structure allows again to envisage new growth projects."

 

It has signed a sales agreement on 26 September with Canadian distribution group Sobeys to purchase a freezer factory in Lethbridge (in West Canada, close to the American border). It can handle 15,000 tonnes of frozen products and the deal should be finalized in November. 

Questions or comments? Please feel free to contact the editors


Lower turnover and new CEO for Geox

19/01/2018

Italian shoe brand Geox’ turnover dropped slightly in the past fiscal year. It also replaced former CEO Gregorio Borgo with Matteo Mascazzini, who came from Italian fashion brand Gucci.

Slower growth for Primark

18/01/2018

Irish fashion chain Primark has seen its first quarter turnover grow 7 % at level exchange rates and 9 % taking the fluctuations into account. Analysts however had expected faster growth.

Zalando's profit is slightly below expectations

17/01/2018

German fashion web shop Zalando has grown nearly a quarter in the past fiscal year and its company profit also nearly grew 5 %, although the latter was slightly below its own expectations.

Record turnover for Yoox Net-a-Porter in 2017

16/01/2018

Online retailer Yoox Net-a-Porter (YNAP) achieved a record turnover in 2017, surpassing two billion euro. That is a growth of more than 10 % compared to the year before, when it just missed that milestone.

Hugo Boss reaches growth targets for 2017

16/01/2018

German fashion brand Hugo Boss has managed to reach its targets for 2017, partially thanks to strong fourth quarter growth. For its full fiscal year, turnover grew 3 % (excluding exchange rate fluctuations).

C&A owners consider sale to Chinese investors

15/01/2018

The Dutch Brenninkmeijer family is considering to sell clothing chain C&A, according to German magazine Der Spiegel. One option is to sell to Chinese buyers.

Back to top