Tipiak, the French food group, saw sales and earnings rise in 2015 – but the growth in its top and bottom lines was below the company’s forecasts for the year.
The company booked a 3.6% increase in revenue to EUR192.6m (US$216.5m) for last year, helped by the growth in sales of branded products.
Net profit was up 3.6% at EUR4.6m.
However, Tipiak believed it could grow revenue and earnings by 6% in 2015 – and confirmed in September it was sticking to its targets despite a loss in the first half of the year.
Tipiak described 2015 as a year “marked by moderate changes in food consumption and deflation in sales prices”. The company said it maintained its investment in marketing. Sales of products sold under the Tipiak brand accounted for 56% of revenues.
Looking into 2016, Tipiak said: “In a still very uncertain environment, Tipiak, relying on its strategic strengths, will maintain its policy of strengthening its market share and supporting the development of the business and will seek the further consolidation of its results.”