Pinguin To Benefit As Consumers Trade Down

The CEO of Frozen food producer Pinguin believes the firm is in a strong position to benefit from consumers trading down to cheaper food varieties during the economic downturn. CEO Herwig Dejohnghe claims that frozen food offers cost savings of around 25 to 30% and as consumers recognise this the firm will see a gradual upswing it its revenues. However, as the Belgium-based firm generates around half of its frozen vegetable sales in the UK, Pinguin has also been hit by the declining value of sterling against the euro.

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