Acquisitions keep Stef turnover steady

Paris, France: Stef reports consolidated turnover for the 1st quarter of 2013 up  3.7 % €618.9m.

The group’s business development remained steady with the turnover increase primarily due to acquisitions made in late 2012. In November 2012, the group acquired a specialist catering company which generated a €21.9 turnover during the first quarter including €19.5m sales on behalf of others.

Logistics business in France was the other main growth area lifting turnover 5.8 % to €104.7m. “All logistics activities remained on a positive trend at the beginning of the year, despite the negative impact of recent incidents on the beef market. The capacity ratio in the frozen sector is satisfactory (86.5%), which is consistent with stock increases due to a consumption slowdown,” Stef says in a statement.

Transport sales were particularly affected by a decrease in food consumption, an unfavourable calendar (-3.1%) and adverse weather conditions.

In the Iberian peninsula, the difficult economic climate and the decline in food consumption led to a fall of volumes in retail logistics. It was partially offset by the development of transport activity for the food industry. Excluding acquisitions, sales were down 2.9%. says Stef.