Grupo Nacional de Chocolates profitability improved 55% in the first nine months of 2010

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.