Grupo Nacional de Chocolates, Colombia’s largest food company, has reported a slump in first-quarter profits.

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The company posted net profit of COP42.2bn (US$20.1m) during its first quarter, down 73% from the first quarter of last year when the company’s results were lifted by the sale of assets.


Operating income reached COP45.7bn, plunging from COP210.4bn in the corresponding period last year.


In a statement released yesterday (30 April) the company said that the results did not reflect a weaker performance because “in the same quarter in the previous year the main part of that net income was generated by the sale of assets”.

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