Hot First Quarter at PinguinLutosa
Overall sales for the first three months ended June 30 were up 91.9% to 210,237,078 euros. That incl…Overall sales for the first three months ended June 30 were up 91.9% to 210,237,078 euros. That included 97,701,598 euros in frozen vegetables, up 99.3%. CECAB accounted for 34.6 million of that, but even without CECAB the increase was 26.5%.
Potato division volume was up 22.1%, but prices sagged 14.6%, so that actual sales registered a relatively week 4.3% to 64,638,803 euros. Scana Noliko, the canned operation acquired last year, accounted for 50,896,677 euros a 100% increase, since it wasnt part of the company a year earlier.
It will take 18-24 months to fully integrate CECAB operations, the company said, and that "will receive the highest priority," PinguinLutosa said. "Further measures" are being taken to improve profits in the UK, added a press release, and there will be a strict focus on cost control.