French dairy giant Bongrain has reported a profits increase for the first six months of 2012.
The firm, which was ranked in the Rabobank Global Dairy Top 20 earlier this year, reported net sales of €1.979bn for the first half of the year – a 5.3% increase on the €1.880bn recorded in H1 2011.
The firm cited organic growth of 3.4% from its cheese products offering as a driving factor in the profits increase.
"Cheese products performed will in countries outside of Europe, as did industrial products more generally. Conversely our consolidated results were unfavourably impacted by the performance in those countries suffering economic crisis,” said the firm’s financial statement.
Looking ahead, Bongrain has forecast that the potential slowdown in consumer demand is likely to have a “stronger impact on our operations than during the first half of 2012.”
“Despite this difficult context, Bongrain SA intends to pursue its development, taking advantage of its brands and market positions, a healthy financial position and its skilled and competent teams,” said the firm.