Meat different firm Quorn has reported working losses, whereas its father or mother firm Monde Nissin noticed elevated income.
It reported a 9.5% income drop on a relentless foreign money foundation in Q3 of 2023, attributed to the “difficult retail market”.
The corporate noticed an working lack of round $15.7 million (£12.5 million) in 2022, with a 4.3% drop in retail gross sales.
Quorn noticed its market share enhance to 33%, up 1.3% from the earlier yr’s share of 31.7%. Quorn’s father or mother firm Monde Nissin reported its revenues elevated by 17.8% in Q3, up on outcomes for a similar interval a yr in the past.
The father or mother firm’s web revenue was reported to have elevated by 68% throughout Q3, reaching $41.1 million (roughly £32.7 million). For the primary 9 months of 2023, revenues have been up 10.5% year-on-year.
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