Ifco, the specialist global provider of reusable packaging solutions for fresh products, has delivered fiscal year 2016 annual revenues of US$992m, a 16 per cent growth over 2015 at constant currency.
According to the group, the growth was realised through four key activities: increased use of RPCs by the company’s current retailer customers as they continue to realise greater efficiencies and product quality benefits through increased supply chain standardisation; Major new retailer contracts, particularly in Europe; Expansion into new markets via acquisitions of market leading RPC providers in Japan, Chile, and Colombia; and expansion of solutions for fresh products beyond fruit and vegetables, with continued adoption of RPCs for meat and eggs and the launch of new solutions for bread and seafood.
“Fiscal year 2016 was an incredible year for our company,” said Wolfgang Orgeldinger, chief executive of Ifco, “This high rate of growth is a testament to the value our customers receive from their use of our products. We are very grateful to all of our customers, suppliers, and employees worldwide for their support.”
All regions contributed to the growth of the company. Europe remains Ifco’s largest market with revenues of US$621m and a constant currency growth rate compared to prior year of 15 per cent.
Ifco North America achieved revenues of US$199m and a 4 per cent constant currency growth rate while the rest of the world (Ifco Latin America, Ifco Asia and the RPC activities of Chep in Australia, New Zealand and South Africa) achieved revenues of US$172m and grew by 38% per cent at constant currency (11 per cent before acquisitions in Chile, Japan and Colombia).
