Italian canned food producer La Doria has reported 2.7% year-on-year growth in consolidated revenue in the first quarter of its financial year, to €183.8 million.
The company reported a positive performance in several of its ranges, including sauces, canned vegetables, and tomato derivatives.
It posted a net profit of €2.0 million for the period.
Foreign markets accounted for 82.8% of sales (+4.8%), while sales in its domestic market fell by 6.5%.
'Extremely Competitive Market'
La Doria said that it 'continues to operate in an extremely competitive market scenario that in recent years has gradually worsened, with the increased bargaining power of large retailers'.
The company attributed the growth of discount stores, establishment of buying groups, intensification of commercial tensions and protectionist measures as factors contributing to growing competitiveness in the market.
Outlook
The company foresees a challenging year but expects an increase in sales volumes and pricing in the period.
It also expects to see the first positive effects of investments it made in the business in 2018.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine.
