Food sector sees increased sales

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The Independent Online

The food and drink manufacturing sector is continuing to perform strongly despite the uncertain economic backdrop, according to a new survey by the Food and Drink Federation.

Almost 60 per cent of the industry body's members recorded increased sales in the third quarter of the year, while only 15 per cent reported a decline. More than half expect sales to keep growing until the end of the year.

Respondents said that they had managed to keep a lid on price rises in the third quarter , but the current inflationary trends in raw materials meant that some 64 per cent expected to raise prices by the time 2010 is out.

Though still cautious about the economic picture, most of the companies surveyed said they were either maintaining or increasing investment in facilities, research and staff, boding well for the industry's longer-term prospects.