UK: Zetar “confident” despite margin pressure
UK snack maker Zetar has said that it remains confident of growing full-year profits despite the pressure being placed on its margins by increased costs and challenging trading conditions.
Addressing the company's AGM today (25 September), chairman David Williams said that, with sales up 10% year-on-year, Zetar anticipates profits for this year to be ahead of last year.
However, he warned, the challenging trading environment made the company's results difficult to forecast.
"Given the current challenging trading environment, together with the volatility in foreign exchange rates, raw material input prices and energy prices, we anticipate there will be pressure on margins. This makes the outturn for the current financial year difficult to predict at this stage," Williams said.
UK confectionery and snack foods group Zetar saw first-half profits drop 73% despite an increase in sales, as rising costs and the closure of UK retailer Woolworths took their toll....
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