Agostini’s sees $1.14b in revenue for first quarter

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Agostini’s has started Financial Year 2022 on a positive note, as the Group of Companies recorded a revenue of $1.14 billion for the first quarter ending December 31, 2021.

The performance represented an increase of 17 per cent over the $968 million earned in the same period last year,

Chairman Christian Mouttet said, “Our Group enjoyed improved revenue and profitability in our three segments, driven by a combination of strong organic growth, new revenue from the Oscar Francois, Intersol and ProCom acquisitions, and continued cost management initiatives.”

He added, “Our FMCG business had a robust Quarter, driven by strong execution across all markets and continued growth in exports. Pharmaceutical and Health Care performed well, benefiting from improved sales in distribution and retail, as well as the synergies created from the integration of Smith Robertson with the recently acquired Oscar Francois and businesses.”

Mouttet said despite the challenges posed for the COVID-19 pandemic, Agostini’s was expecting good results for the rest of the year.

He said, “Much uncertainty remains due to the unpredictability of the COVID-19 virus and its potential for severe economic disruption. However, based on our strong First Quarter results, as well as the clear signals from our government and other regional governments to keep our economies open, we expect improved results for Financial Year.”