The Magnum Ice Cream company has credited its “occasion-led demand creation model” for 4.2 per cent revenue growth in the first half of the year, hitting approximately £4.03bn.

The business reported an organic sales growth of 4.7 per cent, driven by a volume and price increase of 2.5 per cent and 2.2 per cent, respectively, across all regions.

Magnum’s operating profit increased to around £503m compared to approximately £488m in the same period last year, which is a reflection of an improved adjusted EBIT.

The company’s adjusted EBIT in the first half grew to £613.8m compared to £571m in the year prior, with an adjusted EBITDA margin of 15.3 per cent, up from 14.8 per cent.

Magnum’s second-half revenue reached approximately £2.5bn, with an organic sales growth of 4.9 per cent.

Peter ter Kulve, CEO of Magnum said: “Growth in the first half continued to be powered by market-making innovation and our occasion-led demand creation model. Each of our four leading brands – Magnum, Ben & Jerry’s, Cornetto, and the Heartbrand – grew, with innovation across flavours and formats, exciting consumers and customers.

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“Ben & Jerry’s grew mid-single-digit and had an outstanding second quarter with 9.2 per cent growth. Our key summer selling season got off to a strong start.

“We grew and gained share in all regions, including the US – our biggest market – supported by improved operational rigour. Our productivity programme remains on track, helping us deliver underlying margin improvement and providing fuel for growth.”

The company’s top four brands, Magnum, Ben & Jerry’s, Cornetto, and Heartbrand, delivered strong organic sales growth.

Magnum brought in mid-single-digit growth, which was boosted by the successful launch of the Signature La Pistache product.

Ben & Jerry’s gained momentum over the period, increasing by mid-single-digits, with performance improving in the second quarter for both the Americas and Europe.

Cornetto and The Heartbrand delivered low-single-digit and mid-single-digit growth respectively with a strong performance across the European markets.

In May, the Magnum Ice Cream Company rejected claims from a coalition of investors that its handling of Ben & Jerry’s could put the brand’s long-term value at risk. In an exclusive interview with Retail Gazette, Ben & Jerry’s co-founder Ben Cohen  called on retailers to boycott Magnum products as he intensifies pressure on the ice cream giant to sell the brand to investors who would “protect its social mission”.

Cohen said retailers and suppliers should “either stop buying Magnum products or at least raise your voice” over what he described as the company’s failure to uphold contractual commitments to Ben & Jerry’s.