May 8, 2008

Provimi sales up 19.8 percent in Q1

Animal nutrition company Provimi announced its sales for the first quarter of 2008 amounted to EUR532.5 million, an increase of 19.8 percent on-year.

The strong sales were attributed to higher selling prices.

The first months of 2008 saw a steady price increase of major ingredients such as soy and grains.

Vitamins and phosphates also increased in price during the first three months of the year.

The company noted that market conditions in animal nutrition remain challenging, notably for swine feed.

In spite of a favourable start to the year, Provimi sees raw material markets remaining volatile and market conditions for customers to remain challenging.

The group said it would continue its restructuring activities to improve efficiency and to adapt the organisation to  changing market conditions.