Spanish processed meats group Campofrio emphasised it has seen a progressive improvement in returns throughout the year as it booked a decline in nine-month earnings today (11 November).
Year-to-date EBITDA totalled EUR100m, down 3.7% on the comparable period of last year. Campofrio said the decline was “mostly” due to higher raw materials costs in the third quarter. However, the group added efforts to boost profitability meant EBITDA margins demonstrated a “gradual improvement in returns throughout 2013”.
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The company revealed net profit was down EUR2.9m in the period, falling to EUR1.8m “in line with the decrease in EBITDA”.
Net sales were flat, totalling EUR1.39bn. The company said a strong performance from its brands and a focus on growth segments – health, heritage and snacking – enabled it to maintain sales levels despite weak economic conditions.
