Dutch dairy manufacturer FrieslandCampina has managed to almost double its profits in the first half of 2015, despite turnover being at pretty much the same level as last year.
Profit up by 85 %
FrieslandCampina's net turnover reached 5.6 billion euro in the first six months of 2015, while the dairy manufacturer managed to boost its profit 85 % to 192 million euro. "Margins rose due to the sale of more products with a higher added-value, positive currency translation effects, lower purchasing costs and the lower guaranteed price for raw milk", FrieslandCampina said in a press release.
"In the current uncertain markets we were able to achieve a good result. This proves the success of the route2020 strategy, aimed at achieving sustainable growth and value creation, which we have followed since 2010", CEO Roelof Joosten added.