Horsemeat scandal to hit 2 Sisters Food Group results
By Laurence Gibbons
- Last updated on
The 2 Sisters Food Group announced it expected the horsemeat scandal to cause “considerable volume reduction” to its ready meal business in its financial results for the 13 weeks to January 26, on March 19.
Ranjit Boparan, 2 Sisters’ ceo, said: “We expect considerable volume reduction in our ready meals business during the second half of the year following media coverage of horsemeat issues, which have impacted the food industry as a whole and beef-related ready meals in particular.”
Panmure Gordon analyst Damian McNeela acknowledged the negative impact on the ready-meal category but questioned the manufacturer’s prediction of lower volumes.