Q1 2022 B&S Group SA Corporate Sales Call Transcript
Hello, and welcome to the Q1 2022 trading update. My name is Josh, and I will be your coordinator for today's event. (Operator Instructions) I will now hand you over to your host, Tako de Haan, to begin.
Good morning, all. This is Tako de Haan, CEO of the B&S. With me here on the call is Peter Kruithof, our CFO. I will take you through the highlights of the Q1 2022 trading update that we published this morning. After that, I would like to open the call for Q&A. Let me start by giving you some detail on the first quarter of 2022.
Our turnover growth of 14.6% all came from organic growth. This was largely driven by the liquor segment, further aided by sales growth in Personal Care, Food and Retail segments. Gross margin growth was suppressed by increasing marketing and transportation costs. This was driven by ongoing industry-wide supply chain challenges, product scarcity and rising digital advertising rates. Operating expenses increased due to scarcity in the labor market
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