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Rachel’s Organic owner Lactalis Nestlé suffers 11% turnover drop

Rachel’s Organic owner Lactalis Nestlé saw an 11% fall in turnover last year in the face of a “very difficult economic environment”, latest accounts have shown.

The supplier, a joint venture between Nestlé and French dairy giant Lactalis, saw sales fall £13.5m to £108.3m for the year to 31 December 2019, according to latest accounts published at Companies House.

Pre-tax profit for the year also fell 15.9% to £3.6m due to what the supplier described as a “declining market” that it didn’t “expect to change in the immediate future”.

Despite launching a range of big pots last year and revamping its packaging, Rachel’s saw sales fall by 19% to £21.2m last year following a £4m slump in 2018 after the brand was a key victim of Waitrose’s yoghurt aisle reset in 2018.

Source: https://www.thegrocer.co.uk/results/rachels-organic-owner-lactalis-nestle-suffers-11-turnover-drop/649208.article Oct 12 | Competitor News