March 1, 2019 / 7:18 AM / 6 months ago

France's Bonduelle half-year profit falls on poor harvest

March 1 (Reuters) - French vegetable producer Bonduelle on Friday posted an about 8 percent drop in half-year net profit, due to poor harvest in Europe last year.

The consolidated net profit for the first half of 2018-19 fell 7.6 percent to 37.7 million euros ($42.83 million), the company said in a statement.

The Group said its business outside Europe was impacted by the downsizing of the fresh activities in North America.

Bonduelle expects the full-year group’s profitability objective at constant exchange rates at the lower range of the initially announced target of 128 million euros to 133 million of euros, citing the harvest impact and the difficulties in negotiating with distributors, the statement added.

$1 = 0.8801 euros Reporting by Michal Aleksandrowicz; Editing by Rashmi Aich

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