Fromageries Bel Reports Consolidated Sales Results for the Third Quarter and Nine Months Ended September 30, 2017; Provides Earnings Guidance for the Second Half of 2017
For the nine months, the company reported total sales of EUR 2,513 million against EUR 2,180 million a year ago.
Affected by the strong rise in dairy raw material prices, with the lion's share of the impact expected to hit in the second half of the year 2017, the group expects its operating margin to decline significantly in second half of 2017, versus the prior year period.