View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
September 1, 2015

Halloren resolute despite widening H1 losses

Halloren, the German chocolate maker, has reiterated its annual sales targets and said it expects a "significant" improvement in profitability after reporting higher half-year losses.

By Dean Best

Halloren, the German chocolate maker, has reiterated its annual sales targets and said it expects a “significant” improvement in profitability after reporting higher half-year losses.

The company booked a pre-tax loss of EUR4.7m (US$5.3m) for the first six months of the year, compared to a loss of EUR3.4m for the first half of 2014. It made an operating loss of EUR4.3m, almost double the EUR2.3m generated a year earlier.

Halloren faced high prices of cocoa, hazelnuts and almonds and said it had only managed to secure price increases on its own products in the latter part of the second quarter. 

Sales were down at EUR41m with Halloren also saying it had exited some lower-margin orders.

However, CEO Klaus Lellé said Halloren expects a “significant improvement” in operating earnings “in the coming months” in part due to the impact of the recently-agreed price hikes helping profitability. He also stood by the company’s sales target of EUR125m.

Related Companies

Topics in this article: ,
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every other month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Food