Provimi Group Half-year results 2009

Provimi Group, one of the world leaders in animal nutrition, has published a trading update on its consolidated results for the first six months of the year. Revenues decreased by 23.3 per cent to Euro 840.6 million, which was largely due to lower sales prices resulting from decreased raw material costs. The net impact of acquisitions and divestments was Euro29.8 million negative, while unfavourable exchange rates had a negative effect of Euro 69.9 million. On a like-for-like basis, sales decreased by 17.3 per cent. Profit from operations before other operating income decreased to Euro 49.1 million. Exchange rates had a negative effect of Euro 2.3 million.

The performance continued to improve, especially in pet food, with sales growth accelerating in existing countries and the opening of new markets and new accounts, notably in Germany, Poland, and Romania. Service levels to customers and operational efficiency improved, opening new growth opportunities for the group's pet food activities.