• Sales dropped 3.3% to US$122.7m
  • Operating income was up to USD1.3m
  • Net profit dropped 2.3% to USD$13.7m
Petra Foods has posted a loss in Q1

Petra Foods has posted a loss in Q1

Petra Foods has suffered a net loss for the first quarter of 2014.

The Singapore confectioner reported for the period ended 31 March a net loss of 2.3% to USD$13.7m and attributed it to the costs associated with the divestment of the cocoa ingredient business.

In addition the firm was hit by negative currency translation.

Sales were also down 3.3% for the quarter. While regonal markets performed better for Petra's branded consumer division, posting an increase in sales of 6.2%, in the Indonesian markets, sale fell 6.5% against the same period last year.