View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
April 29, 2014

UK: “Competitive trading” hits Iglo in 2013

Higher one-time costs, lower sales and weaker margins meant Iglo Group booked a sharp jump in losses during 2013.

Higher one-time costs, lower sales and weaker margins meant Iglo Group booked a sharp jump in losses during 2013.

In its annual report, the maker of Birds Eye frozen foods said net losses plummeted 152.7% in the year.

Gross margin fell 1.2 percentage points to 33.4% and sales declined 2.8% due to “the increasingly competitive trading environment”, particularly in Italy. Iglo said it saw sales trends improve in the final quarter of the year as NPD fed through.

The bottom line was also dented by increased exceptional items, which totalled EUR83.8m (US$115.6m) compared to EUR53.6m in 2012.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every other month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU