COLOMBIA: Grupo Nacional de Chocolates profit rises
Grupo Nacional de Chocolates' profitability improved 55% in the first nine months of 2010
Colombian food group Grupo Nacional de Chocolates saw its net profit grow 55% during the first nine months of 2010.
The company attributed the growth to improved profitability in its food business and lower debt costs.
For the period ended 30 September, net profit reached COP188.75bn (US$102.3m). Consolidated EBITDA grew 2.7% to COP390m.
Operating revenue, however, fell 3.9% to COP3.16trn due to the weaker Venezuelan currency, one of the group's markets in South America.
- General Mills sales woes continue - analysis
- Why personalisation will take-off in US food
- US food next wave on display at Winter Fancy Food
- Analysis: Chocolate sector's deforestation pledge
- Comment: Meal kits in US - don't believe the hype
- Kraft Heinz cuts jobs in US, Canada
- Mondelez set for union crosshairs next week
- Mondelez plays down impact of union action
- Recipe-kit firm HelloFresh launches into UK retail
- Germany's Haribo plans first US candy plant