Shares in UK confectioner Zetar fell this morning (24 January) after the company warned its sales this Easter could be lower than last year.
Zetar, which makes own-label confectionery and snacks for UK retailers, said orders for Easter had so far not reached the level seen in 2010.
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“Our customers’ ongoing caution about consumer demand has so far resulted in Easter orders being confirmed at lower levels than last year,” Zetar said.
The caution on Easter led to Zetar’s shares falling 4.74% to 181p at 09:48 GMT.
However, Zetar, which also makes products under licence using brands including Unilever’s Marmite, said it had had a “good” first half of its financial year as it reported its financial results for the six months to the end of October.
Underlying pre-tax profits, which strips out costs including those linked to the acquisition of local confectioner Derwent Lynton last April, rose 13% to GBP2.8m (US$4.4m).
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By GlobalDataRevenue increased 2.4% to GBP61.8m. Underlying sales grew 7%, Zetar said.
