Frozen wild pink salmon fillets. (Photo: birdseye.co.uk)

Iglo Group's UK frozen food sales growth faster than ever

Leading frozen food maker Iglo Group has seen a 12.8 per cent EBITDA growth to EUR 180.3 million (versus EUR 159.9 million in 2011) in the first half of the year with fish sales as one of the main drivers.

Iglo said that despite the challenging European retail market, its frozen food market growth in H1 has been robust. In the UK, total frozen food sales surged faster than total food over the first half of 2012. This is the first time that total frozen food has grown faster than total food and it will be an indicator that Iglo will be watching closely.

There was group net sales growth of 3.5 per cent and fish sales increased by 6.1 per cent during the period. These positive results benefited from both positive currency movements and greater number of trading days in H1.

“Following a successful 2011, the group continued to grow strongly in fish and poultry through the first half of 2012, while our focus on operational execution drove EBITDA growth despite a challenging retail environment,” Chief Executive Martin Glenn said.  

He noted that H1 came with several new product launches which have delivered strong performance in their respective markets. The innovative fish portfolio especially delivered strong year-on-year growth in Italy, demonstrating Iglo’s ability to deliver revenue synergies from Acquisitions, he commented.

“We are now investing in the business at record levels and up-scaling our core product production capabilities. While we expect markets in the second half of the year to remain challenging, we remain on track to deliver full year core category sales growth,” Glenn said. 

The first quarter of 2012 launch of ‘Fish Fusions’ added to the firm’s popular new range. In the battered fish category, a dual branded offer with Harry Ramsden’s has been launched.

Moreover, the ‘Bake to Perfection’ range, which continues to enjoy UK success, has been migrated to Italy, where it has delivered strong performance, particularly the Sea Bass recipe.

In the UK, growth was pushed by strong performances across all core categories, with notable contributions from Fish Fingers and Coated Fish.

In France, the turnaround continued with solid sales and share growth on the back of a strong performance in fish.

Sales in Turkey and Russia both continue to experience rapid growth albeit from a small base, supported by continued investment in advertising and promotion. Iglo remains the brand leader of Fish Fingers in the key areas of Moscow and St Petersburg, the company said.

By Natalia Real
[email protected]
www.seafood.media

Address:	5 New Square - Freepost ADM3939
City:	Feltham
State/ZIP:	Middlesex, England (TW14 8HA)
Country:	United Kingdom
Phone:	+44 208 918 3200
E-Mail:	[email protected]
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