RFG Foods increased turnover by 9.6% in the 10 months to July 2019 as the group’s regional business overcame the weak macroeconomic and consumer environment to grow turnover by 8.8%.
CEO Bruce Henderson said good growth in the canned meat, fruit juice and dry foods categories contributed to the regional long life business increasing turnover by 10.8%.
The group gained or maintained market share in core product categories across its brand portfolio which includes Rhodes, Bull Brand, Squish, Bisto and Pakco.
Fresh foods turnover grew by 5.8% for the 10 months, “with ready meals and infant food being the best performing categories, while the pie category again proved resilient in the constrained consumer spending climate,” he said.
The group’s international business increased turnover by 13.4%, driven by higher volumes, a favourable shift in mix towards higher value-add products and the 9.7% depreciation of the Rand against RFG’s major trading currencies.
Henderson said turnover growth was supported by good increases in the export of fruit snacks in plastic cups to the USA and stronger canned fruit sales, with lower exports of industrial purees and concentrates.