A tough environment
As outlined at the time of the H1 results, La Doria’s operating environment remains tough, with significant deflation on the sales side and raw material inflation on the cost side. The effects of a difficult 2016 tomato campaign are still feeding through, and the devaluation of sterling is unhelpful as it may cause a loss of competitiveness in the vegetable line vis-à-vis British domestic producers. Management expects a recovery from mid-2017, when the new tomato campaign will start to come through.La Doria is a food product manufacturing company based in Italy. Co. specializes in the manufacture and production of foodstuffs, particularly tomato-based products (canned tomatos and ready-to-serve sauces), and other canned products such as pulses and fruit. The main products are peeled tomatoes, chopped tomatoes, tomato puree. Co. mostly sells its production to Italian and European retail groups such as GS Euromercato, Sainsbury, Tesco and Safeway; these companies distribute La Doria products under their own labels. Other lines include canned beans, vegetables, and pasta products.
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