Tipiak warned prospects for the fourth quarter would depend on French consumption levels and "the evolution of purchase prices" of main raw materials

Tipiak warned prospects for the fourth quarter would depend on French consumption levels and "the evolution of purchase prices" of main raw materials

French food group Tipiak has booked a 2.2% increase in nine-month sales following what it said was a period of "moderate cumulative growth".

Tipiak, which manufactures products ranging from patisserie to croutons, said sales for the period amounted to EUR121.9m (US$133.10m) compared to EUR119.3m for the same period a year ago. The company said the slight increase was spread across its frozen and dry food categories.

Q3 frozen sales increased by 2.4% over the same period last year to EUR66.8m. Dry food sales were up 1.8% to EUR55m.

Tipiak said the increase in sales followed a "dynamic period" which saw a 4.6% rise in revenue to EUR84.5m for the first six months of its financial year

The company said it continues to "significantly strengthen its position in stagnant or decaying markets". However, Tipiak warned: "Given the strong seasonality of the group's activities, the remaining prospects will essentially be conditioned by the level of consumption in France in the fourth quarter and the evolution of purchase prices of our main raw materials."

In what it described as a "still uncertain environment", Tipiak said it will "maintain its policy of strengthening its market share, support the development of activity and will seek the further consolidation of its results based on its strategic strengths".