PinguinLutosa provides financial update of First Quarter 2011

For the 3 months to 31 March 2011, PinguinLutosa recorded consolidated sales of 118.6 million euro, which represents an increase of 4.48%. Evolution of sales per division is as follows:



In accordance with the IFRS standards, in 2011 the transport costs charged on to customers have been posted under the heading ‘sales’ and the prior period figures have been adjusted accordingly.

Both in the deep-frozen vegetable and the potato division there is a decrease of volumes sold compared to prior year.

The impact of the decrease in volumes in the potato division (-13.99%) was more than compensated by the increased sales price, which was caused by the strong increase of the purchase price of fresh potatoes.

Within the deep-frozen vegetable division the volume sold decreased by 6.50%. Had the exchange rate of the British pound remained unchanged, the whole deep-frozen vegetable division would have achieved 4.57% less in turnover.