Innscor volumes rise

INNSCOR Africa limited has recorded significant volumes growth across its various business units for the nine months to March 31, 2022, on account of strong consumer demand.

In a trading update for the third quarter, the firm said volumes within the bakery division were 23% ahead of the comparative period.

“Bread pricing remains a critical focus area in light of both local and international inflationary pressures; engagement continues with key stakeholders in ensuring that both consumer and producer pricing is balanced appropriately to allow for sustainable supply of the product to the market,” said Innscor.

“As previously reported, several expansion projects are currently underway in the business, which will lead to improvements in both capacity and capability in the Harare and Bulawayo production facilities. These exciting new investments are expected to be operational by the end of the current calendar year,” Innscor said.

It said the Colcom division, comprising Triple C Pigs and Colcom Foods, registered a 16% growth in volumes for the nine months with the processed pork category’s volumes having been up 25% in the same period and the pie category translated to a volume growth of 34%.

This was after pig production remained excellent with an all-time quarterly high, in terms of animals processed, being achieved in the third quarter.

“Overall focus in the business continues to be directed to driving pig production efficiencies, coupled with investment initiatives to reconfigure the current production facilities and unlock further growth and production enhancements,” the group said.

At Irvine’s, Innscor said, cumulative nine-month volumes for the day-old chicks and frozen poultry categories closed 38% and 30%, respectively, ahead of the comparative period; table egg production continued to operate at full capacity, and volumes remained slightly ahead of the comparative ninemonth period.

Innscor said volume performance, at 16% above the same period last year, at Associated Meat Packers continued to show signs of recovery.

“At Natpak, volume momentum was maintained into the third quarter, and on a cumulative ninemonth basis, aggregate volumes in the business were 24% ahead of the comparative period. Ninemonth volumes within the rigids division closed 66% ahead of the comparative period, with expansion investments yielding increased capacity and production capabilities.

“Volume growth within the flexibles and corrugated divisions increased 14% and 6%, respectively over the same period. Volumes within the sacks division also remain marginally ahead of the comparative nine-month period, despite subdued demand for maize packaging,” Innscor added.