Arla reports sales rose in H1, cuts outlook

Farmers' cooperative Arla Foods, one of the world's biggest dairy firms, said on Tuesday its first-half revenue rose 10.7% year-on-year, but the group also lowered its full-year sales guidance.

Arla, owned by around 8400 dairy farmers in Denmark, Sweden, Germany, Britain, Luxembourg, the Netherlands and Belgium, said revenue stood at 7.06 billion euros ($7.64 billion) between January and June, compared with 6.3 billion euros last year. "During the first half of 2023, we continued to see inflationary pressure resulting in consumers moving towards discount channels and private label products," says Arla CFO, Torben Dahl Nyholm.

The dairy cooperative lowered its sales outlook for 2023 to between 13.2 billion and 13.7 billion euros from 13.6-14.2 billion euros seen in February. ($1 = 0.9242 euros)

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