Turnover growth for cheese manufacturer Bel despite weak European performance

Turnover growth for cheese manufacturer Bel despite weak European performance

French cheese group Bel, which owns amongst others La Vache Qui Rit, has managed a 7.5 % turnover growth in its first quarter, up to 714 million euro. The Middle East and Africa were Bel's saviours as its European home region performance ranges from weak to abysmal.

2.3 % organic growth

Advantageous exchange rate fluctuations have helped Kiri, Leerdammer, Boursin and Babybel's manufacturer to establish a 7.5 % turnover growth. Its organic turnover growth still reached an admirable 2.3 %, although those numbers were not achieved all across the board.

 

The Western Europe region is the most important region for the company, with a 267 million euro turnover (+ 2.2 %). The region represents about a third of Bel's total turnover. North and Eastern European performances were not as good for the French cheese specialist: turnover dropped 9.8 % to 126 million euro in these regions.

 

Bel did manage to post impressive turnover growths in the rest of the world: + 29.5 % in America and the Pacific region (worth 116 million euro already), + 22.7 % for the Near and Middle East (worth 125 million euro) and + 11.9 % for Africa (80 million euro).

Questions or comments? Please feel free to contact the editors


Fewer customers and lower turnover for H&M

15/12/2017

Swedish H&M Group suffered a 4 % turnover drop in the fourth quarter because its stores welcomed fewer customers.

Hunkemöller is European Retailer of the Year

14/12/2017

Dutch lingerie chain Hunkemöller has been elected “Retail of the Year Europe 2017-2018”. Q&A, which also elects a “Retailer of the Year” in Belgium and the Netherlands, organized the election for the third time.

Amancio Ortega leaves Inditex with strong quarterly growth

14/12/2017

Over the first three quarters of fiscal year 2017, Inditex’ turnover grew 10 % to 17.96 billion euro. The Spanish fashion company published the results as its boss, Amancio Ortega, stepped down.

Glimmer of hope for fashion retail in 2018

08/12/2017

McKinsey wrote in its The State of Fashion 2018 study that the industry has survived the harshest, even though nothing will ever be as it used to be. Growth will come from southern and eastern regions; fast-fashion will become even faster and the large companies will become even larger.

Gucci investigated for tax avoidance

04/12/2017

The Italian police raided Gucci’s offices in Milan and Florence, looking for evidence of tax avoidance. The fashion label admitted there was an investigation and that it is fully cooperating.

Quiksilver wants to acquire Billabong

01/12/2017

Surfing brand Quiksilver tabled a 150 million dollar (125 million euro) bid for its competitor, Billabong. It may be the latter’s only way out, with compounding losses in the past few years.

Back to top