The supplier managed to grow sales by 19% to £30m in the year to the end of September, well ahead of the olive oil category as whole, which was up 2.3% in value for the year to 1 October and 5.4% by volume [Nielsen MAT 1 October]. There was little evidence of inflation contributing to Berio's growth, with volume up 17% to a record 9.8 million litres.
Filippo Berio MD Walter Zanré refused to reveal profits for the period but insisted the growth had not been driven at the expense of profitability, although he admitted the percentage of sales on deal was also going up. He said that despite the doom and gloom people were still looking for indulgent products and its strong sales reflected the trend of people eating in.
"For many consumers, while they aren't spending money on lots of big ticket incomes, they still have a decent disposable income and looking for quality," he added.
Sales of its more premium La Traversagna Extra Virgin Olive Oil, launched in September 2010, were doing well, he said. It was now stocked in the top 100 Waitrose stores.