- Q3 autonomous revenue growth +8.0% (5.2% volume)
- Grocery continues to perform well
- ABC showing very strong performance in third quarter
Piet Hein Merckens (CEO) comments: "I am increasingly confident with our progress and consecutive results being realised. Within the organic markets we are well positioned with our strong brands. Grocery was showing a good balance of growing sales and increased profits. It continues to perform well with ongoing focus on brand activation and innovations such as the French lunchboxes. Bjorg continued to gain market share and we relaunched Zonnatura just this week. At HFS we increased focus on our brands and higher value added distribution by divesting two activities. In general, our branded HFS activities are performing satisfactorily. At HFS wholesale we continue to work hard at implementing multiple improvements, of which several have yet to translate into tangible results. At Frozen Foods, focus is on both sales growth and managing operating costs. We are tapping on improvement initiatives to grow the top line and bottom line. ABC realised a very strong quarter driven by the success of gaining additional distribution for ready-to-drink pouches and production efficiencies.
Going forward, we are cautiously optimistic. We have a strong team in place and the execution of our strategy is progressing. Some signs of improvement are already showing in different areas, for example at Grocery, whereas in some other areas improvements are yet to be seen and remain the focus of our efforts. We also have to deal with an element of uncertainty due to persistently subdued European economic environment and pressured consumer confidence. Despite these macro-economic challenges we are firmly determined to improve our performance step-by-step and further solidify our positions and brands in the European organic markets."
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