- The Food Revolution Group (FOD) has seen 25.9 per cent growth in its juice business, ahead of releasing its quarterly report
- FOD says results from the last quarter of market data saw the company’s Original Juice Co Brand grow 24.4 per cent compared to the prior year
- The company says the key factors contributing to this growth include excellent quality of fruit from its farmers and highly effective promotion programs with major retailers
- Results from the March 2021 quarter will be posted by April 28
- The Food Revolution Group is up 9.09 per cent, trading at 3.6 cents
The Food Revolution Group (FOD) has seen over 25 per cent growth in its juice business, ahead of its quarterly report.
In line with the past three quarters results, FOD says it has performed ahead of its competition in the $560 million Australian fresh juice and functional beverage market.
FOD says highlights of the last quarter market data saw the company’s Original Juice Co Brand grow 24.4 per cent compared to the prior year, with products at Woolworths shooting up 27.2 per cent, followed by Coles at 24.5 per cent.
The company says the key factors contributing to this growth include excellent quality of fruit from its farmers and highly effective promotion programs with major retailers, which FOD says has seen consumer demand for Original Black Label (OBL) grow.
“I am exceptionally pleased as to the ongoing positive trend regarding FOD market share gains and growth,” said CEO and Managing Director of FOD Tony Rowlinson.
“In the past 12 months, the Original Juice Co Brand has grown in excess of 20 per cent. Considering the challenges we faced regarding impact of COVID-19, and short supply of fruit, this is an excellent result.”
“With the roll out of the OBL Brand into the independent retailers in South Australia, the favourable consumer response of the Juice Lab wellness shots into Coles and roll out into further 1000 stores by end of May, has given the business good momentum and is well positioned for ongoing profitable growth.”
Results from the March 2021 quarter will be posted by April 28, 2021.
The Food Revolution Group is up 9.09 per cent, trading at 3.6 cents at 10:40 am AEST.