Iceland Group reports the following sales performance for the 6 months to the end of December which include sales of Booker acquired at the end of June 2000.
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The decline in performance of the Iceland food business between H1 and H2 was due primarily to the reduced level of promotional activity and to the switch to organic products which has not matched the company’s expectations. The positioning of organic lines is being reviewed to ensure that the food offer more closely aligns with customer demand.
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The overall performance of Booker, which includes tobacco sales, has been satisfactory although the sales mix has seen higher growth in lower margin products.
The Christmas trading period saw the following performance
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A thorough evaluation of the progress of integration following the Iceland Booker merger is currently being undertaken by Bill Grimsey (Chief Executive) and Bill Hoskins (Finance Director), who joined the Group on 2 and 15 January respectively and a further statement will be made by the end of January.
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