French charcuterie and prepared meals manufacturer Fleury Michon has lowered its forecast for annual sales after it reported a fall in revenue for the first half of the year.
For the period ended 31 June, the firm reported revenues of EUR348.7m (US$467.7m), a 0.9% decline compared with the same period a year earlier.
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Sales were impacted by a fall in sales in both its domestic and international markets.
However for the second quarter of the year the firm reported an increase of 1.8% in sales to EUR180.7m with sales up in all segments: charcuterie, prepared meals and surimi increasing.
The firm said it expects revenue to fall below the 4% growth figure previously announced due to “harsher than expected” economic conditions.
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By GlobalData
