In the first half of 2017, Belgian drinks manufacturer Spadel has seen its profit shoot up thanks to the warm weather and its Bulgarian Devin acquisition in December 2017.
Success of flavoured water
Spadel’s turnover grew 17.8 % to 147.1 million euro in that period, while organical turnover growth reached 7.3 %. Profit grew 60.3 % to 21.1 million euro, a 42.5 % like-for-like growth. Its net profit reached 13.9 million euro, up from 8.6 million euro in the previous year.
Other reasons for the company’s growth, aside from the Devin purchase, were the warm weather in May and June and its new range of flavoured waters, with no sugar unlike classic lemonades, was also very successful.
Spadel forecasts continued growth in the second half of 2017, but is still cautious. “It is still a highly competitive market, known for its high promotional pressure and a price war in the supermarket industry.”
