French food group Tipiak reported higher first-quarter sales, with growth led by expansion of the firm’s chilled and frozen business.
The company said group-wide sales increased 7.5% to EUR42.9m (US$48.9m). Tipiak said this was the consequence of “dynamic” sales growth across the two sectors in which it operates.
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The firm’s chilled and frozen business – which produces ready meals and finger food under the Tipiak brand – booked revenue growth of 9.2%. This division accounts for more than half Tipiak’s sales, totaling EUR24.7m in the period. Dry foods – which includes cereals, polenta and couscous as well as croutons sold under the Tipiak brand – booked a 5.2% jump in sales, rising to EUR18.3m.
Tipiak said growth was achieved thanks to market share gains in France.
Tipiak said it would seek the “continuation” of these top-line trends by maintaining its policy of “strengthening its market share” and supporting “development activity”.
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By GlobalData
