Tipiak, the French food group, has stuck to its targets for earnings to grow 6% despite the company posting a first-half loss.

“Due to the structural seasonality of our business, the very major part of the earnings of the full year is achieved during the second half of the year,” CFO Jean-Joseph Schiehlé told just-food.

Schiehlé said the company is also still forecasting growth of 6% from sales in 2015.

Tipiak posted a loss of EUR1.2m for the six months to the end of June, up from EUR600,000 in the corresponding period a year earlier. The group made an operating loss of EUR1.1m, compared to EUR400,000 in the first half of 2014.

For 2014 as a whole, Tipiak made a net profit of EUR4.5m and an operating profit of EUR7.9m.

However, the company saw sales rise 6% to EUR80.8m. Sales of Tipiak-branded products in supermarkets increased 7%.

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