Kerry Group has said that its Consumer Foods division, with includes brands such as Denny and Cheestrings, posted a volume sales increase of 1.4% in Q1, according to an interim management statement posted this morning (April 30).
In the statement, Ireland-based Kerry said that 'while retail pressures, channel and structural changes in the UK and Irish consumer foods markets continue to impact market competitiveness, nevertheless chilled convenience and snacking market sectors reflect more stabilised trading market conditions. Kerry Foods’ repositioned portfolio has achieved encouraging results to-date'.
Pricing during the quarter decreased by 2.6%. The improved business mix and trading performance contributed to the division’s 20 basis points increase in trading margin.
It said that its rebranded Denny Gold Medal sausage brand "continues to perform well", while the 'Yollies' yoghurt brand "continues to achieve encouraging market penetration".
Overall, business volumes grew by 2.5% on a group wide basis – slightly ahead of the Q4 2014 level of growth.
© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones