SPAIN: Chocolate firm Natra swings to 9M profit
By Michelle Russell | 25 October 2012
- Net profit amounts to EUR1.9m
- Operating profit soars 74.8%
- Net sales drop 0.6%
 |
An easing of cocoa prices and expansion into North America contributed to Natra's profits |
Spanish chocolate group Natra has returned to profitability in the first nine months of the year.
In the January to September period, the cocoa and chocolate firm said it earned EUR1.9m (US$2.5m) compared to a net loss of EUR2.6m in the comparable period last year.
The "significant recovery" of the group's business operations, which allowed the firm to close September with an operating profit increase of 74.8% to EUR11.63m, was the main driver of the change in Natra's net result, it said.
The figure was also boosted by an improvement in operating income in the firm's Natraceutical ingredients division, which filed a EUR1.3m profit compared to a loss of EUR1.5m last year.
An easing of cocoa prices and expansion into North America also helped drive profits.
Turnover dropped 0.6% to EUR259.3m. A change in inventories of "finished and work in progress" goods affected sales by EUR991,000.
Excellent operational recovery, with no extraordinary items
Consolidated net profit stood at 1.92 M€ compared to the negative result of 2.59 M€ up to September 2011.
The Cocoa and Chocolate business maintained its turnover at previous year's levels and increased the profit from operations up to 10.34 M€, compared to 4.47 M€ in September 2011.
Net profit reached 2.06 M€ versus the negative net result of 3.30 M€ in the first nine month of 2011.
Natraceutical contributes to Natra's consolidated accounts an operating income of 1.29 M € compared to the negative result of 1.54 M € in the same period last year. The company ended the third quarter with a slight negative deviation of 0.14 M € in net income, compared with a profit of 0.71 M € to September 2011, which was mainly generated by the difference in the contribution of Naturex in each of the exercises.
On a consolidated basis, Natra completed the first nine months of 2012 with a profit from operations of 11.63 M € compared to 2.93 M € to September 2011, and a net profit of 1.92 M €, compared to the negative result of 2.59 M € in the first nine months of last year.
Original source: Natra
Sectors: Commodities & ingredients, Confectionery, Financials
Companies: Natra
View next/previous articles
25 Oct 2012 -
25 Oct 2012 -
Currently reading -
SPAIN: Chocolate firm Natra swings to 9M profit
25 Oct 2012 -
25 Oct 2012 -
Related research
Chocolate Confectionery - Spain - a snapshot (2011)
Chocolate Confectionery in Spain by Mintel Global Market Navigator provides you with annual year-end market size data, most recently updated in 2011. This market covers wrapped countlines, tablets, individually wrapped, non- individually wrapped, sea...
This report analyzes the worldwide markets for Cocoa in Thousand Tons. The report provides separate comprehensive analytics for the US, Canada, Japan, Europe, Asia-Pacific, Latin America and African. Annual estimates and forecasts are provided for th...
Related articles
Editor's choice: the highlights on just-food last week
3G Capital, the private-equity firm soon to own Heinz, last week turned to another investment - Burger King - for the US food giant's new CEO. In the UK, R&R Ice Cream, Europe's largest own-label ice cream supplier bought a local rival it said would boost its branded stable. Europe was shook by more horsemeat revelations. Meanwhile, we interviewed Sainsbury's on multichannel, Canada's Dare Foods and took a look at the possible suitors for Burton's Biscuit Co.
CHINA: Natra opens Hong Kong office to grow Asia business
Spanish chocolate group Natra has opened a commercial office in Hong Kong as part of its strategic plan to increase its presence in the Asia-Pacific markets.
There are currently no comments on this article
Be the first to comment on this article