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Innscor Volumes Recover In Third Quarter

Diversified food producer, Innscor Africa Limited weathered a second hard lockdown announced at the beginning of the year after boosting production across its major segments during its third quarter (Q3) to March 31, 2020.

This was thanks to a number of capacity enhancement and operational efficiencies.

Despite a second wave of the global pandemic at the beginning of the period under review, consumer sentiment for the company’s products continued to improve buoyed by stability in inflation, the company said in its latest trading update for Q3.

The Bakeries division achieved a 28 percent volume increase in the cumulative nine-month period versus the comparative period, whilst volumes achieved in the third quarter were ahead of both the previous (quarter two) and comparative quarters.

“Volume recoveries across the protein, mill-bake, packaging and beverage value chains continued to be realized, supported by ongoing investments into capacity expansion and enhancement initiatives,” said Innscor Secretary, Andrew Lorimer.

At National Foods, cumulative nine-month aggregate volume growth remains steady at 14% over the comparative period.

Volumes at Colcom continued to recover into the third quarter, and from a nine month cumulative perspective were 19% ahead of the comparative period, with strong performances being recorded in both the fresh and processed categories.

Irvine’s continued to register solid volume performance through to the third quarter, with all three main product categories recording positive growth.

Volume growth was very strong at Prodairy, surging by 42 percent over the comparative nine month period, with all core categories contributing to the operation’s performance.

“The business continues to add new flavour variants within the dairy blend and mahewu categories, and towards the latter part of the quarter under review commissioned the new “fino” long-life packaging format which will be utilized to extend the milk, dairy blend and mahewu product offerings,” said Lorimer.

However, the company said securing local raw milk supply remains a critical component to the business’s sustainable growth plan, as it continues to grow this business segment.

 

 

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