Petra Foods, the Singapore-based chocolate maker, revealed that it plunged into the red during 2015 as one-time expenses and lower sales hit the bottom line. 

Net earnings dropped to a loss of US$4.7m in 2015, down from $48.7m in 2014. Expenses related to the settlement of a dispute with Barry Callebaut regarding the sale of Petra’s cocoa unit to the Swiss business-to-business giant dented profit, trimming $19.4m off the net result. 

Gross margins were also down in the year on an increase in the cost of goods sold, with gross profit dropping 24.8% to $120.8m. 

Petra Foods also faced a drop in sales, which it attributed to “weak consumer sentiment in Indonesia” and the “continued depreciation of regional currencies”. Revenue in the year fell to $405.9m, down 19.5% from $504m in 2014. 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData