Spadel Sees 2.2% Drop in 1st-Half Volume Water Sales, Tijd Says

Spadel SA (SPA), the Belgian bottler of mineral water, estimates that first-half volume sales of water will decline 2.2 percent, De Tijd reported, citing Chief Executive Officer Marc du Bois.

“We sold more in the first three months of the year, but since then it’s going wrong,” the newspaper cited Du Bois as saying after the company’s annual general meeting.

Du Bois said circumstances are “extremely difficult,” according to the newspaper. “There is absolutely no room for maneuver for prices, while our raw materials have become remarkably more expensive,” Du Bois was quoted as saying.

To contact the reporter on this story: Andrew Clapham in Brussels at aclapham@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net

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