Glisten reports hike in confectionery sales
The UK group said that the retail confectionery market continues to experience price deflation, and the firm has responded by developing a range of fair trade products under the ‘Traidcraft’ label, which it claims, is winning market share.
Leeds based Glisten, which is set to being taken over by Benecol-maker Raisio subject to court approval, said it has also diversified and channelled products into export and markets sectors adjacent to traditional confectionery.
The company’s confectionery product range runs from traditional boilings to fruit gums and jellies and chocolate and sugar coated fruit and nuts as well as popcorn and mints with lines developed for both private label and its own brands such as its low calorie line, Skinny Candy.
The company, which also makes cereal and fruit snack bars and holds the UK rights to make SunMaid raisins and Weightwatchers products, said its pre-tax profits overall rose to £2.22m in the six months to December 31, from £1.98m the previous year.
The group said that most parts of our business are performing steadily and that it is satisfied with progress to date but it said that it remains cautious about continued sales growth during the second half of the year.
“We believe that consumer focus on both premium and better-for-you/healthier snacks will return strongly but in the short term there is no doubt that the absolute priorities for many consumers continue to be price and value,” said Glisten chief executive Paul Simmonds.
The firm said the results would be its last as an AIM-listed company after shareholders last week approved an offer by Finnish food group Raisio valuing the company at around £19.8m.