Iglo Group increases sales despite ‘challenging’ market
Friday, November 28, 2014, 04:10 (GMT + 9)
Europe’s leading frozen foods business Iglo Group reported net sales 2.7 per cent increase year-on-year in the third quarter 2014 and an EBITDA growth by 9.7 per cent year-on-year. The group highlighted it achieved these results despite the ‘tough’ market conditions that continue to impact the sector with consumer spending under pressure across all European markets.
As a consequence of this situation, the frozen foods category declined by 0.4 per cent in the third quarter.
Nevertheless, the Group’s chief executive Elio Leoni Sceti pointed out: "Against this background, Iglo has delivered value share growth in 8 out of 11 markets. We have invested in our new campaign to support not only the core but also to drive the launch of our new innovations”.
Despite the decline in the frozen product market, Iglo deems it “encouraging”... FULL STORY