Savencia SA : Q4 penalised by a demanding comparison base in Argentina
>Q4 sales:-2.4% est. l-f-l, of which -7.9% for other dairy products - Organic growth of 2.8% for the full-year was underpinned by a price effect that we estimate at around 2%. For Q4, Savencia posted a -2.4% decline, on our estimates, reflecting a slight fall in volumes and prices of around 1%.For cheese products, organic growth was +3.2% for the full year buoyed by a volume effect of +2.3% and a price effect of +0.8%. The price effect decelerated in Q4 to +0.8% ...Savencia is a transformer of milk centered on cheese, dairy specialties, and on dairy ingredients. Co.'s operations are divided into two segments: the Cheese Products segment and the Other Dairy Products segment. In the Cheese Products segment, Co. manufactures and distributes cheeses and cheese specialties. In the Other Dairy Products segment, Co. manufactures and distributes modern butters and long-life creams both for final consumers and professional users, manufactures technical butters and specialized dairy proteins for industrial markets, and manufactures aseptically packaged products.
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