Maggie Beer Holdings’ new chief executive says the gourmet food producer will be able to withstand lower consumer spending after posting a drop in sales and cutting the value of its gifts and hampers business.

Kinda Grange, who took the helm in March, said the strength of the Maggie Beer brand in sauces, cooking stock and bone broth would help offset a trend where shoppers are trading down to cheaper products in other categories as higher interest rates and energy bills hit household budgets. But she acknowledged there were uncertainties in the economy and fluctuations in different product segments.