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Raw material cost hit Provimi

The Dutch animal nutrition group Provimi achieved strong revenue growth in 2007, but is expecting the high cost of raw materials to hinder its financial performance. According to figures released ahead of its full-year results, sales rose by 16.6% to Euro 1.9bn ($2.6bn), due largely to higher selling prices. The rise in prices reflected a sharp increase in the cost of raw materials during 2007, said Provimi. The company expects this to reduce operating margins, particularly in its pet food business. It incurred higher costs during 2007, which will also affect its overall performance. The company will publish its full results on March 19th. max.thomas@informa.com

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