FRoSTA Experiences Rough Half Year
summary：Turnover of FRoSTA AG, Bremerhaven, Germany, wss down 4% for the first six months of the year. The company said in its semiannual report that this was due to intense competition from the private label sector, particularly in frozen fish....
The FRoSTA brand, with its unique purity code, achieved a 7.4% sales increase, which was disproportionately higher than the 3.8% increase of the entire market as reported by Nielsen. FRoSTAs newly introduced vegetable-based ready meals were particularly well received.The groups net income before taxes was 4.6 million euros in the period, compared to the previous years 4.7 million. A further slight decline in sales is expected in the remaining months of 2012. Gross profits remain under considerable pressure because of the strengthening US dollar, which is used for the purchase of most raw materials. Despite the current competitive situation, the company says, price increases will be necessary in the second half, which makes it a challenge to improve on the previous year.