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October 8, 2021

Australia’s TasFoods unveils new CEO, CFO

The dairy and poultry supplier has two new executives in the top positions at the company.

By Dean Best

TasFoods, the Australia-based dairy and poultry business, has unveiled a new chief executive and a new CFO.

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The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
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Scott Hadley, a former executive at drinks giant Asahi Group Holdings, has formally started at TasFoods after completing a transition period with the outgoing Jane Bennett.

“The induction period has further grown my confidence in the future position of TasFoods,” Hadley said. “We are coming from a solid position in dairy and poultry and there is a strong platform for growth.”

Hadley joined Asahi in 2012. Since 2014, he has led the Japanese group’s alcohol business in Australia and New Zealand.

Meanwhile, Shona Croucher, finance director at Australia-based infant-formula producer Bellamy’s Organic, is to become TasFoods CFO later this month. She will replace Donna Wilson, who, like Bennett, decided to step down in August.

In the first half of TasFoods’ current financial year, the company’s revenue grew 5% to AUD33.9m (US$24.8m). It described the result, covering the six months to the end of June, as “a strong performance”, lapping the pantry-loading seen in Australia in the corresponding period a year earlier.

TasFoods booked a half-year EBITDA loss of just shy of AUD300,000, which compared to a loss of AUD1.3m the year before. The company’s loss after tax was AUD1.4m, against AUD7.2m in the first half of 2020.

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Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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