SWEDEN: Cloetta Fazer reports strong Q2 results
Swedish confectionery firm Cloetta Fazer has reported a 3% rise in second-quarter sales to SEK661m (US$87.0m).
Sales in the Nordic market, where the company is the leading confectionery firm, increased by 6% to SEK605m for the second quarter. Quarterly operating profit excluding non-recurring items rose 6% to SEK67m.
Sales of the company's top 12 brands were up by 9% for the second quarter. As part of the focus on the prioritised brands, a number of new products and flavours were launched in the spring. Launches in Sweden included the new Polly countline, Polly Cappuccino Mint, Polly Fruities, Plopp Caramel and Tutti Frutti Exotic. In Finland, the company launched products like Kismet Snacks, Kismet Choco and Pantteri Duo.
"Cloetta Fazer delivered strong results for the second quarter," said CEO Karsten Slotte. "The group has shown robust volume growth. Our sales in Finland continue to rise despite declining growth in the total market. Sales in Sweden grew in volume but decreased somewhat in value due to severe price pressure."
"Our other markets are also benefiting from our strategy to rationalise the product range and streamline distribution. Our performance has been especially strong in Denmark, Norway and the Baltic countries, where both sales and profitability have improved," Slotte continued.
Sales have declined in Poland, where the closure of the Gdansk plant is scheduled for completion at the end of August. Cloetta Fazer will continue to sell its brands in the Polish market after the closure.
Swedish confectionery firm Cloetta Fazer has said sales of its 12 prioritised brands remained strong in the third quarter, with 5% growth, although overall third-quarter sales fell by 4% to SEK709m (U...
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