Sales from continued operations in the first half of 2018 were €1,131 million, up 11.0% on the corresponding period in 2017. Organic sales declined by 0.1%, partly as a result of a change in reporting rules. Operating profit from continued operations fell €2 million to €31 million. Net profit from continued operations declined by €1 million to €25 million in the first six months of the year. The Group’s net profit, including discontinued operations, increased by €1 million to €29 million.
Koen Slippens, CEO: “After a difficult start to the year, we closed the first half of the year with two fantastic summer months. We are seeing net growth in our sales markets, even though it doesn’t appear to be as strong we had originally expected. At Foodservice, the first six months of the year were dominated by the acquisition of the Heineken wholesale operations. Our first priority is of course to look after our joint customers and to ensure continuity of operations. In addition, we are working hard on the preparations for the further integration of the activities, due to start later this year. There is a strong belief in the partnership and we are seeing the opportunities for sales and logistical benefits over the next few years confirmed. The preparations for the opening of Sligro-ISPC in Antwerp and the launch of our IT transition, both scheduled for later this year, are fully under way.
At Food Retail, the first half of the year was dominated by the sale of the activities and the preparations for the transfer of activities. This resulted in the completion of the transaction on 2 July 2018 and a smooth transfer of the operation to the buyers. We have great respect for our many EMTÉ colleagues, who have continued to work with great passion and commitment throughout this difficult period.”