PRESS RELEASE
10/11/2011 - Bel's 2011 3rd quarter sales results
Growth continues in Q3
In the first nine months of 2011, the Fromageries Bel Group generated a 3.7% increase in consolidated sales over the first nine months of 2010.
Organic growth for the period came to 6.8%, after taking into account a negative 1.1% scope-of-consolidation impact from the disposal of Jaromericka in November 2010, and a negative 2.1% foreign exchange impact.
The Q3 performance confirmed the trends observed in the first half of 2011, with sales growth up 1.7% on a published basis and up 5.8% organically.
By geographical region, the sales trend was as follows:
Q3 sales continued to trend up in Western Europe, the Americas Asia-Pacific and Greater Africa. The Near and Middle East continued to suffer from geopolitical unrest in the region and the effects of destocking in some markets. Excluding changes in the scope of consolidation, the Eastern European region had positive sales growth despite a lackluster economic environment.
Outlook for 2011
Against a backdrop of sustained high raw material prices, the Group confirms that its full-year 2011 operating margin will be lower than observed in 2010.
Public relations
Agence Burson-Marsteller
Amélie Aubry / Tom Doron
amelie.aubry@bm.com / tom.doron@bm.com
Tel : +33 1 41 86 76 76
Groupe Bel
Guillaume Jouët
Directeur de la communication
gjouet@groupe-bel.com
Tel. : +33 1 40 07 76 01
