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Frozen Foods International News
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| FRoSTA Gains in Sales, Stalls in Profits |
Despite a five percent increase in sales, which surpassed 400
million euros for the first time in 2009, profits for Germanys
FRoSTA AG remained only at the previous year's level of 12.0
million euros after taxes.
Shareholders at the company's annual meeting in Bremerhaven were
told that the blame for this could be placed mainly on the price
pressures on retailers resulting from the continuing decline in
their gross earnings.
The shareholders were told that the company's unique Purity Law
(Reinheitsgebot), under which chemical additives are completely
avoided, is becoming ever better known to the public. This, the
company said, was why its market share for ready meals, as
reported by Nielsen, surpassed 30% for the first time in May,
assuring Frostas market leadership in the segment.
The number of employees reached 1,614, compared to 1,539 in 2008,
and of these 480 were employed in Poland. Sales in the first five
months of 2010 were slightly under those of the previous year. In
view of the continuing uncertainties in the raw material market,
chaotic currency conditions and price pressure on the retailers,
it is doubtful that the results for 2010 will reach the level of
2009.
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| 29-Jun-10 |
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