Pet Food News

Provimi animal nutrition updates 2011 financial results

The Provimi Group delivered a trading update for the first six months of 2011, from January 1 through June 30. The animal nutrition company reported revenues up more than 11% to €871 million (US$1.24 billion).

The company's gross margin increased by 5.2% to € 237 million (US$336.6 million), after completing the sale of its petfood business in June to focus solely on animal nutrition.

“In the second half of the year, we will continue to accelerate the Group’s performance. We are well on track to deliver an EBITDA of € 175 million (US$248.5 million) for the full year, up 10.9% on last year,” said Ton can der Laan, chairman and CEO.

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