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Bonduelle: H1 earnings down 8%

( - Bonduelle has reported H1 2018-19 net income of 34.
8 million euros, down 7.6%, with an underlying operating margin of 4.3%, down 30 basis points, a fall that mainly reflects crop failures in 2018.

The agri-food group's sales came in at 1,406.6 million euros, down 1.6% in both reported and comparable terms, with satisfactory business in Europe, having been impacted by the streamlining of its fresh food activities in North America.

Bonduelle expects limited growth in its sales at constant exchange rates over 2018-19, and confirms its target for annual profitability at constant exchange rates at the lower end of the initial range that the group announced of 128 million to 133 million euros.

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