Babyfood sales beat Numico targets

By Dominique Patton

- Last updated on GMT

Related tags: Cent, Eastern europe

Dutch nutrition group Numico raised its sales targets for the year
after record babyfood sales and continued strong growth in clinical
nutrition drove up second quarter revenue.

Strong growth in babyfood sales to the UK, Indonesia and Eastern Europe boosted sales during the three months by 12.9 per cent, while sales in clincial nutrition rose 13 per cent.

The company has increase sales growth targets to 10-12 per cent for 2005, up from 8-10 per cent stated previously.

Numico has recently increased its share in the Indonesian babyfood business Sari Husada to 95 per cent as it sets out to gain share in emerging markets, fuelling its increasing turnover.

Almost 9 per cent of the first half sales increase in babyfood came from higher volumes while 3.5 per cent was driven by higher prices or product mix.

In eastern Europe sales grew 29 per cent, and the rest of the world markets like Indonesia saw a 24 per cent increase.

The division has been hit by a €2 million cost related to restructuring its operations in China however and earnings from this unit were flat.

The 7.8 jump in operating profits for the first half is driven by earnings at the clinical nutrition business, some €89 million for the period.

Total sales for the group in the first half are up 12.5 per cent to €935 million while profits have increased by a third over last year to €101 million.

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