Finnish food group Ingman has posted a loss after financial items of EUR0.9m (US$1.13m) for the quarter from January to April 2006, with net sales falling by 1.4% to EUR85.5m.
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However, the company said it expected to regain ground during the rest of the year and anticipates that its overall results for 2006 will therefore be on a par with 2005.
Managing director Robert Ingman attributed the loss to the decrease in net sales which he said was due to the fact that consumption of dairy products in Finland is not increasing, while imports of fresh products have risen.
In addition, Ingman said the company had lost gains it had made in the ice cream sector in the summer of 2005 to Nestlé. Ice cream accounts for about 20% of Ingman’s sales.
According to industry data, Nestlé and Ingman were level in terms of market share in ice cream during the first quarter of 2006, with both holding around 39% of the market. However, that represents a decline for Ingman which in 2005 had around 42% of the market to Nestlé’s 35%.
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