Bongrain Sales Up 3.2% in Q1

Net sales of cheese products were supported by positive volume trends in Bongrain's major markets and favorably impacted by the calendar effect of an earlier Easter than in 2009.

3 May 2010 --- Bongrain SA’s consolidated 1st quarter net sales for 2010 were up 3.2% compared to the same period of 2009.

Net sales of cheese products were supported by positive volume trends in Bongrain's major markets and favorably impacted by the calendar effect of an earlier Easter than in 2009.

Net sales of other dairy products grew thanks to the positive trend in the world prices for industrial products.

The structural drop in revenues reflected the sale in 2009 of Compagnie Laitière Européenne’s fluid milk division.

The positive foreign exchange impact of 0.4% reflected the gain in value of the currencies of Central and Eastern Europe, and South America, which compensated the weakening of the US dollar against the euro.

In 2010, the evolution of the world prices for industrial products may result in a new increase in the price of milk in most markets. Commercial and marketing strategies have been designed to respond to this changed environment. Net borrowings remain well under control.

At the end of the 1st quarter, Bongrain SA acquired a majority interest in the Romanian company Delaco, thereby comforting its position in the country’s market for cheese.

Bongrain SA also acquired from Unilever, in Germany and Austria, the Brunch brand which was already manufactured by its Edelweiss subsidiary.

These developments outside France reflect the Group’s growth strategy in the area of cheese specialties.

Within an economic context that remains uncertain, developing sales of specialty brands and pursuing operating efficiencies remain the priorities of each and everyone at Bongrain SA.