CSM sees Q1 fall in bakery demand

07 May, 2010
Page 10 

Worldwide bakery supplier CSM revealed falling demand in its bakery supplies for the first quarter of the year, with a 1.2% drop in volume compared to Q1 2009.

In an interim management statement, CSM reported overall sales of E644.4m (£555.5m) for the first quarter compared with E636.1m (£548.4m) in 2009, while EBITA increased from E6.3m (£5.4m) in 2009 to E16.4m (£14.1m), mainly due to improved margins as a result of more favourable raw material contracts.

Volumes in CSM's European operation saw sales down from E249.2m (£218.9m) in Q1 2009 to E247.3m (£213.2m) in Q1 2010, with growth in its frozen products, particularly in the UK where the firm said there had been some recovery from the "severe economic setback in 2009".

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