Dutch wholesaler Sligro has cited an economic slowdown in Benelux as underlying its disappointing first-half performance. Turnover was flat at EUR1.12 billion (+0.4%) while profit was down almost half at EUR13 million.
Sligro said logistics and staffing expenses weighed heavily on its balance sheet and this impacted turnover in its home market of the Netherlands, which saw a slight fall of 0.1%. This contrasted with a 5.6% gain in Belgium, largely driven by the opening of a new DC in Antwerp.
Despite this, Sligro remains upbeat about the future as it begins to onboard Heineken’s Benelux wholesale operations and completes full integration of a new SAP system expected for 2020.