Naturex growth slows in third quarter on currency pressures

Fruit and vegetable powders were a strong spot in the otherwise slow Food & Beverage division

Naturex has reported slower growth in the third quarter, mainly due to currency fluctuations, although revenue for the first nine months was still up 8.7% compared to the same period last year.

The company recorded sales of €76.8m in the third quarter, up 1.1% on the prior year period. The Nutrition & Health category was 25.5% up in the first nine months, and drove most of the company’s growth for the year so far, particularly in the US market.

Food & Beverage shrank 0.9% in the year to date, but the sector still accounted for 54.8% of the company’s revenue mix.

"Since the year's start we have achieved excellent gains for sales in each region where we operate, despite uncertainties linked to the global economic environment,” said Naturex's Chairman-CEO, Thierry Lambert.

“In line with expectations, due to adverse effects of trends for certain currencies and a less favourable comparison base, the pace of expansion in the 2013 third quarter was slightly less sustained than in the first half. With growth prospects driven by our focus on scientific innovation and the dynamism of our sales network, combined with a selective acquisition strategy, we can look to the future with confidence."