Distributor and Wholesale Company B&S Group foresees a return to the market in the second half of the year, after a bad first six months due to the coronation crisis. Among other things, the listed company saw the disappearance of the demand for, for example, cosmetics and drinks in the cruise sector. The outlook for this segment is still bleak, but B&S is continuing in Asia and Europe. That should also make the margin a little stronger.
In the first half of the year sales fell by 7% to EUR 835.8 million. The operating profit margin fell to 4.2 percent, from 5.9 percent in the same period last year. Under the line, EUR 12.8 million remained. That is more than half less than a year ago net profit went into the books.
CEO Tako de Haan indicates that the company will probably be able to return to its pre-coronacris sales level by 2021. It also helps that deliveries for web stores show sustained growth.
Maurice Esma, a co-founder of EconomicInform is a freelance journalist with the expertise in international finance and corporate rights. The author can be reached by email maurice.eisma@economicinform.com
