Manor Farm-Owner Reports ‘Continued Strong Growth’ In Q2 Results
Manor Farm-Owner Scandi Standard has reported continued strong growth and improved results, in its latest financial report.
The chicken processor’s group net sales increased by 10% during the period, according to its recently published second quarter results for 2019.
“The demand for our products continued to flourish in the second quarter and we continued to gain market share and improve our sales mix,” Leif Bergvall Hansen, CEO of Scandi Standard said.
"Our top line growth was consequently well above the 7% average organic growth we have demonstrated over the last five years," he added.
"The strongest growth was generated in the Ready-to-eat product category (26%) and in the Ready-to-cook Chilled product category (10%)."
Its net sales increased by 8% in Sweden, 20% in Denmark, 7% in Norway, 13% in Finland and remained unchanged in Ireland.
Ireland's largest chicken processor Manor Farm was bought by the Swedish group for in the region of €70 million, in June 2017.
In its latest report, the company said that the majority of its capital investments this year will be directed towards its business in Ireland.
“The investments are aimed at increasing efficiency, improving animal welfare, food safety differentiation and debottlenecking,” Bergvall Hansen said.
Established in 2013, Scandi Standard are the leading chicken producer in the Nordic region, serving the domestic and export markets.
© 2018 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click subscribe to sign up for the Checkout print edition.