Orkla, the Norway-based consumer-goods group, has set out its main financial targets at an investor day in London.

The owner of brands including Grandiosa pizza and Felix mayonnaise said it was aiming for “long-term organic growth” that was “at least in-line with market growth”.

Meanwhile, by 2021, Orkla said it was targeting growth in underlying EBIT margins of at least 1.5 percentage points, “adjusted for M&A and foreign exchange”.

Orkla, which has made a series of acquisitions in 2018, said “strategically attractive” purchases would continue to be “a key part” of its strategy to grow.

It added: “At the same time, the group will focus more strongly on reducing complexity through more active portfolio management.”

Peter Ruzicka, Orkla’s president and CEO, added: “Orkla has transitioned from a conglomerate to a leading branded consumer goods company. We continue to increase the group’s profitability by improving efficiency in every part of our value chain. Orkla will strengthen its leading local brands while reducing the complexity of its portfolio. We are laying the foundation for greater future growth by strengthening our presence in higher-growth channels, categories and geographies. By delivering strong innovations, we will continue to be consumers’ first choice.”

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