The Provimi Group has updated the market on its full year 2007 results. Sales increased to €1,918.5 million, an increase of 16.6% compared to 2006.
(1) Sales are excluding the discontinued fish feed operations, which had 2007
sales of €155. 8 million (2006: €177.6 million).
Disposal of the fish
The disposal of the fish feed activities in Spain, Denmark and Chile
to Biomar (Denmark)
was completed on
31 January 2008. Sales of the discontinued activities amounted to €155.8 million
in 2007 (2006: €177.6 million).
High raw material prices
continued sharp increase in raw material prices throughout 2007 will reduce
operating margins for the full year. This particularly impacted the Pet food
business where price contracts with customers cover a longer period. Head Office
costs are increasing over the previous year as a result of various key
initiatives being implemented across the Group. These will, together with
restructuring charges and higher financial expenses, negatively impact the
Group’s financial performance for the year.
The full year results will
be published on 19 March 2008 after market closing.
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