Italy: Cameo boasts improved sales and profit in 2013

Italy: Cameo boasts improved sales and profit in 2013

Italian food producer Cameo has released its financial results for the financial year 2013, revealing an increase in revenue, gross operating profit and net income.

Its total revenues of €272.1 million ($368.6 million) represented a 3.7% upturn on 2012, the company announced in a statement. Meanwhile gross operating profit was up 9.8% to €41.4 ($56.1 million) million, and net income was up 2.7% to €21.6 million ($29.3 million).

Cameo, which is part of the multinational Dr. Oetker group of companies, put the improved financial performance down to what it called "positive signs in the Italian food market in the face of stagnant consumption" as well as a focus on "quality and innovation".

"Our objective for 2014 is to continue to improve where the market allows", commented Alberto de Stasio and Peter Irle of Cameo's management board. "We will focus on reinforcing our key product lines and make further investments in extending our range through new products that are in accordance with our values. For us, quality is always the best recipe for success".

Source: Cameo