Glisten shines

In a trading statement for the six months ended 31 December 2008 Glisten – which makes health, nutrition and ‘premium impulse’ snack foods – said it had traded satisfactorily over the first six months of its current financial year despite turbulent market conditions which dampened sales and created more erratic demand patterns. In the run up to Christmas, trading in confectionery and savoury baked snacks had been slower than expected, but its premium nut brand Dormen continued to make good progress and both its Lyme Regis (organic and protein-based snack bars) and Nimbus (bakery inclusions) operations had performed solidly. The company said it expected to report a 6% increase in total sales year on year, but first half operating profits would be behind the same period last year as a result of some under-recovery of overheads caused by lower volumes. Underlying trading margins remained robust, it said, and raw material driven price increases were implemented successfully throughout 2008. Raw material costs were no longer rising on a widespread basis although the weakness in sterling could mean some price increases in the coming months. Glisten – which is based in Leeds and has factories in Hampshire, Lancashire, Lincolnshire, London, Wales and Wiltshire – said that in the current economic climate consumer confidence was clearly low and there was a heightened focus on promotional deals and lower prices. This was expected to continue to create weak and erratic demand but Glisten said it had good new business momentum going into the second half of the financial year and was confident about coming through the downturn in a good position.