European livestock feed group reports stable sales
EU - The Provimi Group, one of the world leaders in the animal nutrition business, has announced sales of Euro 360.0 million for the first quarter of the year compared to Euro 374.0 for the same period last year - a decrease of 3.7 percent.The company said that the drop was almost completely explained by the impact of lower raw material prices largely passed on to customers. Exchange rates had a positive effect of Euro 18.0 million, mainly due to the recovery of the Polish zloty while the U.S. dollar continued to have a negative effect.
Provimi said that volumes were in line with last year with continued strong growth in high margin premixes and pet food, offset by lower complete feed volumes.
In France, sales went down compared to last year in a difficult market and in spite of a good performance of the dairy business.
Despite the positive effect of the recovery of the Polish zloty, sales in Poland decreased. This was mainly due to lower selling prices that followed the declining raw material cost, particularly grains and protein sources like soybean meal. Strong growth in premixes and specialties was offset by lower complete feed volumes.
In the rest of Europe, good growth in volume and sales was reached in Germany, the Netherlands, Italy, Czech Republic, Romania, and Russia. Elsewhere, sales were somewhat behind last year, influenced by the passing on of lower raw material costs.
Source: MeatNews
2 May 2005
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