Paris, France: Stef reports third quarter turnover of €1,113.8m, up 13.4% on a like-for-like basis.
Stef’s third-quarter performance was bolstered by external growth in France, UK, Spain and Switzerland.
Stef’s latest acquisitions – Langdons in the United Kingdom, Groupe TTC in Spain, Frigosuisse – contributed to the resilience in turnover of which 36% is now generated outside France.
All the countries posted strong turnover trends. This was particularly true of Spain, which had an excellent summer season, and Switzerland, thanks to the start of a major contract, Stef said in a statement.
Stef France turnover was up 11.8%, like-for-like, to €609.6m. The sharp rise in energy prices continued to weigh on the geopolitical and economic environment.
“The third quarter was marked by positive business momentum in most regions, reflected in the start of several new contracts. However, the business activity of our existing customers showed signs of slowing down at the end of the period,” Stef said.
“The out-of-home foodservices sector continues to be driven by robust momentum in the fast-food industry. The retail and frozen food sectors remain somewhat sluggish.” it said.
