Provimi Group has reported a 12.3% decline in profit from operations before other operating income and expenses to â‚¬49.1 million (US$70.2 million), according to a news report .
Operations in Poland/Ukraine are still reeling from the downturn but have picked up in Latin America, according to the company. Petfood p erformance continued to improve, the report said, with sales growth accelerating in existing markets. Provimi also opened new markets and accounts in Germany, Poland, and Romania.
Customer service and operational efficiency improved, the company reported, providing new growth opportunities for the petfood group.
Revenues fell 23.3% due to lower sales prices resulting from decreased raw material costs.
Still in its infancy, cell-cultured meat is being looked at for its possibilities, but environmental challenges exist, as well.
By David Sprinkle
While forecasts can have short shelf lives, being overtaken by unforeseen events, there’s no question that the U.S. economy and American houseeholds have been buffeted by COVID-19 shutdowns and illnesses, patches of job insecurity despite low unemployment rates and record price inflation only partially offset by wage increases.