The current year will certainly be remembered as one of the best for Italy’s La Doria group, the main private labels player in the vegetable preserves sector. Due to the “revolution in consumption” brought by the coronavirus pandemic, consolidated revenues in the first nine months of 2020 grew by +19% (over the same period of 2019), reaching 633 million euros. Revenue growth was very strong in the second quarter, when the lockdown imposed in Europe and all around the world favored the sales within the large-scale organized distribution. This is in fact the main sales channel for La Doria.
However, also in the third quarter, which was characterized by a relative return to normality, the company performed positively with revenues growing by almost +10% (equal to 191 million euros). The good performance in 2020 is mainly due to exports, which account for about 83% of total revenues. According to the company’s forecasts, this trend will continue in the fourth quarter of 2020. This is due to the pandemic resurgence in almost all countries of the world and the renewed home-consumption trend.
LA DORIA BEST PERFORMING PRODUCTS
The best performance in the first nine months of 2020 was achieved in the red sauces segment, whose sales grew by +24%. Sauces now account for 13.5% of total revenues, and this share is increasing year on year. The red preserves performance, which grew by +17%, and legumes, which rose by 15%, was also good. The third-party trading increased by +26%.
INVESTING FOR EXPORTS
“All this – says Antonio Ferraioli, owner and president of La Doria group – is the result of the industrial efficiency achieved, also thanks to investments made in recent years. Including the new UK logistics hub that will enter into full operation in 2021 and the extraordinary commitment and sense of responsibility of all our employees.”
