IAWS sales growth continues to climb

RECENT consolidation in the British convenience stores sector will benefit IAWS, given its track record and market share in the sector in Ireland and Britain, it was predicted yesterday.

NCB Stockbrokers said IAWS unveiled an 11% like for like food sales growth (all volume) for its half-year ending January 2003 as sales of its lifestyle baked goods continue to outpace expectations.

Group margins continue to climb, up strongly at the half year (+50bps) to 5.6% reflecting changes in its mix of food products and the increased importance of food over agri (food 60% of H1 sales).