Germany's Dr Oetker Group reported sales of €4.17 billion ($4.4 billion) in its packaged food division in the 2023 financial year.
The results amounted to an increase of 6.9% over the previous year despite difficult economic conditions, the company reported on Friday.
Inflation, cost pressures on purchasing and higher product prices led to consumer restraint at the supermarket, according to the company. Nevertheless, Dr Oetker's board chairman, Albert Christmann, described 2023 as a good year overall.
The family-run company, based in the western German city of Bielefeld, traditionally does not disclose its profits.
In mid-June, the Dr Oetker Group will publish financial results for the entire organization, which also includes the Flaschenpost delivery service, the Radeberger brewery, the company's ice cream division as well as hotels.
For 2024, Dr Oetker expects further sales growth for its food division due to rising prices. The food division employed a total of 16,500 workers as of the end of 2023, a decline of about 400 during the course of the year.
The company said the sale of Dr Oetker's business in Russia in the wake of the full-scale Russian invasion of Ukraine accounts for the decline in the workforce.