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October 8, 2014

Premia Foods 9M sales up

Estonia-based food group Premia Foods has reported an increase in sales in the first nine months of 2014 with turnover in each of its divisions - including two it has agreed to sell - rising in the third quarter.

By Dean Best

Estonia-based food group Premia Foods has reported an increase in sales in the first nine months of 2014 with turnover in each of its divisions – including two it has agreed to sell – rising in the third quarter.

Premia booked a 7.4% rise in revenue to EUR78.3m (US$99.1m) for the nine months to the end of September.

Earlier this week, the company announced plans to sell its ice cream and frozen food divisions to Latvian dairy group Food Union, leaving it with operations in the fish products sector.

Premia said sales from the ice cream and frozen food businesses rose in the third quarter of the year. Ice cream, Premia’s largest division by turnover, increased 7.7%, mitigating lower sales in the first half of the year. Premia’s ice cream sales in the first nine months of 2014 were down 3.5% due to the weakening of the rouble.

Sales of frozen foods were up 8.1% in the first nine months of the year, after three successive quarters of growth.

Premia said sales from its fish and fish products business rose 17.4% during the period thanks to retail sales in Finland.

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