Hero, the food company specializing in jams, registered its highest sales level in Spain in five years in 2019. These reached 183 million euros, a growth of 7% compared to the previous year, thanks mainly to export activity.
This is stated in the annual accounts deposited in the Mercantile Registry, in which the company highlights the good performance in alternative channels to distribution, such as the one focused on the hotel and restaurant industry, the pharmaceutical industry and foreign markets.
“Hero Spain has been able to overcome the adverse circumstances of the market,” says the company, referring to “the negative evolution of the large classic distribution chains within infant feeding, as well as the new fall in the birth rate in Spain in 2019 ”. Almost 70% of Hero España’s income is generated by children’s products, almost 125 million, 7.7% more than in the previous year. In terms of markets, sales in Spain increased by 1.6% and in the rest of Europe by 22%, this representing 28% of the total turnover of the company.
The benefit of this was 15.4 million, 23% less, due to the lower dividends received from group companies.
On the other hand, the accounts also show a provision of 1.5 million after some minutes raised by the Tax Agency and signed accordingly, relating to corporate tax, VAT and withholding of income from work. To that figure must be added another 3.7 million signed in disagreement and not provisioned, resulting in a total of 5.2 million.