- François-Xavier Branthôme
La Doria's results for first 2017 half-year demonstrate that the business is solid: despite a tough macroeconomic backdrop in several markets, revenues were up 1.9% during the period, mainly driven by volumes. The important factor is the outcome of the seasonal 2017 tomato campaign, and – as expected – controlled Italian tomato production, together with the sector destocking following the decrease in production in southern Italy in 2016, which resulted in more successful customer negotiations this year, and hence agreed price increases for 2018.
Industry forecasts were for a reduction in crop and for a positive outcome to the 2017 campaign. This did indeed come through, and hence sales prices have increased, which should also have positive margin implications.
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