Positive first quarter sales for Provimi
The Provimi Group announced its turnover for the first
quarter of 2007. Sales amounted to €478.7 million, an increase of 14% compared
to the same period of 2006.
The sales increase is partially a result of the increasing raw material costs
that were gradually passed on to customers with no positive effect on gross
margins. The net impact of acquisitions and divestments increased sales by €21.1
million, which contributed to the progress made in France and North
Results per country
In France, both sales and
volumes showed a good increase in the main product lines, especially in
premixes. Sales in the domestic market developed well in spite of strong
competition. The new pet food activity acquired in December 2006 further
contributed to sales.
In Poland, sales and volumes showed a
significant increase in comparison with the first three months of 2006, helped
by increasing sales of complete feed for swine as farmers were running out of
Market conditions for customers however continue to be
difficult and the ban on the exports of Polish meat to Russia continued. Rising
raw material prices were, with some delay, passed on to
Rest of Europe
In the rest of Europe, a good
performance in the feed businesses in Bulgaria, Russia, Romania, Netherlands and
Spain more than offset lower sales in Hungary.
The European Pet food
activities were faced with rising raw material costs. Sales growth was
particularly strong in Pet food in Central and Eastern Europe. Thanks to good
weather conditions, the aqua feed activities made good progress compared to the
same period last year.
America, the 2006 acquisitions made an important contribution to sales. Overall
performance in the United States was good, despite the negative influence of the
dollar. Increased tonnage and higher ingredient prices for micronutrients both
In the rest of the world, sales showed a more
moderate increase, with a good contribution from the Indian and Vietnamese
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