Sales up at 2 Sisters’ protein business
Like-for-like sales in 2 Sisters Food Group’s protein business increased 13.8% for the 13 weeks to 5 January 2014, compared to the same period last year.
In parent company Boparan Holdings’ second-quarter results update yesterday (18 March), the firm said like-for-like (LFL) sales growth within protein was driven by business gains and annualised inflation, offset by lower volumes and promotions.
Ranjit Singh, chief executive of 2 Sisters Food Group, said: “Protein made good progress with the integration of Vion on plan, we continued to make steady progress in branded and we are taking actions to address chilled performance and investing in capacity to meet our customer growth plans.
The firm said it continued to address its cost base and save future capital expenditure by restructuring its Scottish poultry business, with the exit of the Letham site and shift changes at Coupar Angus.
Singh added that it had been a challenging quarter for the firm, but that it had delivered a “creditable performance”.
Group LFL sales increased by 3.9%, and total sales including Vion were up 35.3%. However, group operating profit, including Vion, was down almost 50% at £13.3m – a £12.8m drop.
The sale of Vion’s poultry and red meat activities to 2 Sisters Food Group was completed in April 2013.
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