Costs associated with moves to restructure its manufacturing base have dented first-quarter profits at Swedish confectioner Cloetta.
The company said today (25 April) that operating profit fell to SEK52m (US$7.9m) in the three months to end-March, down from SEK58m in the comparable period of last year. Underlying EBIT was SEK77m compared to SEK91m.
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Cloetta registered costs of SEK21m in the period related to factory restructuring.
Sales increased 5.9% to SEK1.19bn.
The company stressed that it made progress on its strategy to “broaden” its offering in the period with the acquisition of Alrifai Nutisal.
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