Frozen food market in France

charter, pollution, store, alcoholic beverages, banks, banques, bar, beef, beverages, bread, computer hardware, dairy products, dishes, e-commerce, e-commerce, financial institutions, freezer, fresh products, frozen desserts, frozen food, frozen foods, fruit, fruit, groceries, grocery, hard discount, home delivery, hypermarket, hypermarkets, ice cream, ice creams, leisure, logistics, logistique, magazine, magazine, meat, meats, mutual funds, non alcoholic beverages, pastries, points de vente, pork, savings, software, supermarket, supermarkets, trading, vegetable, vegetables,

2003 annual report f i nanci al information pi erre novari na 13 chemin des prés secs 69380 civrieux d azergues t el 00 33 4 72 54 10 fax 30 e mail pierre novarina toupargel com 16 08 04 14 am 2 3 contents page group financial highlights chairman s message 6 corporate section 8 profile 9 background strengths 11 telesales a to z 12 agrigel france leading frozen foods home delivery company strategic change in direction place du marché specialising fresh and groceries 15 governance organisation 17 french food consumption market 26 products 29 38 shareholder 42 management 53 recent developments 65 consolidated statements notes 66 reporting 111 this present reference document was filed with the markets authority autorité marchés financiers on 27 april 2004 registration n d04 589 pursuant stock commission regulation 98 01 it