Welcome   Sponsored By
Subscribe | Register | Advertise | Newsletter | About us | Contact us
If you would like to send us an article, contact Margaret Stacey
   


Birds Eye fish sticks. (Photo: Birds Eye)

Nomad Foods achieves better profits than expected in Q3

  (UNITED KINGDOM, 11/29/2017)

Leading frozen food firm Nomad Foods Limited achieved profits exceeding its expectations in the third quarter this year, which it attributes to a strong balance sheet and a portfolio of iconic, market leading brands.

The firm's revenue grew by 4.4 per cent in the analysed quarter, to EUR 459 million while its organic growth reached 5.9 per cent and its earnings were EUR 42 million. 

“We experienced strong growth in the third quarter with revenue, gross margin and adjusted EBITDA exceeding our expectation,” pointed out Stéfan Descheemaeker, Nomad Foods’ Chief Executive Officer.

The executive stressed that the firm’s results reflect favourable category performance coupled with market share gains.

"Based on our year-to-date performance, we are raising our 2017 guidance,” he pointed out.

The firm’s gross profit increased 8.6 per cent during the analysed quarter, to EUR 139 million and its adjusted operating expense grew 27 per cent, to EUR 71 million.

On the other hand, its adjusted EBITDA decreased 8 per cent, to EUR 79 million as a result of foreign exchange currency translation, which adversely affected it.

Meanwhile, during the first nine months of the year, the firm’s revenue increased 0.4 per cent, to EUR 1,448 million, its gross profit increased 1.0 per cent, to EUR 439 million, and its adjusted operating expense increased 7 per cent, to EUR 225 million.

Considering the profits obtained until September, the firm increases its projected adjusted EBITDA for 2017, to a range between EUR 325 and EUR 327 million compared to previous expectations of about EUR 320-325 million. The new forecast implies an organic growth of revenue of about 3 per cent compared to the previous growth expectation at a low-single digit percentage rate.

Nomad Foods produces, markets and distributes brands in 17 countries and has the leading market share in Western Europe. Its portfolio of leading frozen food brands includes Birds Eye, Iglo, and Findus.

[email protected]
www.seafood.media


Information of the company:
Address: Nemours Chambers
City: Road Town
State/ZIP: British Virgin Islands (BVI) (NE1 3DQ)
Country: Virgin Islands
E-Mail: [email protected]
More about:


Location:


Approval / Accreditation / Certified / Oversight by...
HACCP  E.U. 



 Print


Click to know how to advertise in FIS
MORE ARTICLES
Veramaris Achieves a Record-breaking Year With a 50% Increase in Production Volumes
Online registration is Now Open for Aquaculture Vietnam 2024
Tasmanian Oyster Company Renews Friend of the Sea Certification
Good Results in a Biologically Challenging Quarter for Mowi in Norway
Coles Canned Tuna Range to Get Tick of Approval from MSC
Seaweed Caviar: The “Roe” of the Future
A Gourmet Line of Peruvian Seafood Like no Other
Shinkei Announces USD 6 Million in Seed Funding for Sustainable Robotic Fish Harvesting
BEWI Introduces New EPS Grades and Fish Boxes with 60% Lower CO2 Footprint
Enabling the Blue Food Revolution
American Seafoods Releases Annual Sustainability Report
Natural Shrimp, Inc. Completes Successful Trial in Japan
Seafood Expo Global/Seafood Processing Global will break records in April with its largest edition
J-HOTATE Association Will be Exhibiting at Seafood Expo Global Presenting Premium and Fresh Japanese Scallops
BioVaxys and Spayvac-for-Wildlife Launch Field Trial for Immunocontraception in the Commercial Aquaculture Industry
BLUU Seafood Opens New Headquarters in Hamburg with Europe's First Pilot Plant for Cultivated Fish
Holland America Line Becomes First Global Cruise Line to Receive International Seafood Certifications
Trout Fed with Algae and Insects
Bumble Bee Seafoods Announces New CEO
Wild Tide Seafoods Delivers from the Harbor to Your Home
More Articles...

Lenguaje
FEATURED EVENTS
  
TOP STORIES
Nestlé Joins and Ocean 14 Capital Fund I Reaches 200 Million Euros to Improve Ocean Health
United Kingdom Ocean 14 Capital Fund focusing exclusively on the multi-trillion-dollar ‘blue economy’, has announced it has closed on €201 million (USD 217.46 M) to support its mission of fundi...
Indian Ocean squid price index: Flying squid (Ommastrephes bartramii)
China In order to continuously enhance the ability to control squid resources and price influence, and conduct more accurate resource assessment and forecasting, the China Ocean Fisheries Association&n...
The Marine Stewardship Council (MSC) Begins 'On-Site Audit' in Chubut for Shrimp Certification
Argentina A key step in the process to achieve the seal of the coastal (onshore) fishery of the Pleoticus gallinari species in the jurisdictional waters of Chubut. It is part of the “full assessment&rdquo...
Tilapia Supply Decreases, Prices Increase: Opportunity for Vietnamese Pangasius?
Viet Nam Tilapia is one of the popular white-flesh fish species in many markets, including China and the US. However, in QI/2024, tilapia prices increased amid a supply shortage. This can be considered an oppo...
 

Maruha Nichiro Corporation
Nichirei Corporation - Headquarters
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation - Wartsila Group Headquarters
ITOCHU Corporation - Headquarters
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
AquaChile S.A. - Group Headquarters
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods, Inc
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO - Food and Agriculture Organization - Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Brim ehf (formerly HB Grandi Ltd) - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Grupo Pereira Headquarters
Costa Meeresspezialitäten GmbH & Co. KG
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Mowi ASA (formerly Marine Harvest ASA) - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation - Headquarters
Cooke Inc. - Group Headquarters
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart | Wal-Mart Stores, Inc. (Supermarket) - Headquarters
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2024 Seafood Media Group Ltd.| All Rights Reserved.   DISCLAIMER