Choco Pies, it seems, are recession-proof.
Confectionery maker Orion achieved the highest third-quarter performance helped by soaring sales of its signature Choco Pie overseas.
Orion Holdings, parent company of Choco Pie manufacturer Orion, made its first foray into the biopharmaceutical industry through a partnership with a state-run Chinese company.
Russia's appetite for Choco Pies is more than just marketing spin. It's so real that Orion, maker of the pie, is building a third factory in the country.
Orion achieved its best-ever performance for the first half of this year after a surge in overseas sales.
Orion's first-quarter net income jumped more than 40 percent on year. The strong performance came as demand for the company's Choco Pies and other snacks rose as more people spent time at home during the Covid-19 crisis