Singapore-based confectioner Petra Foods attributed increases in full-year sales and earnings at its consumer foods business to investment behind its brands.
Petra has focused its business on branded consumer goods following the sale of its cocoa business to Barry Callebaut last year.
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The business achieved “strong” net earnings of US$59.3m for the year to the end of December, up 8.8% year-on-year. EBITDA increased 8.1% to $91.7m and the group raised its gross profit margin by 1.1% to 32% of sales.
Sales were up 7.9% to $508.8m, the company revealed.
Growth was due to the group’s efforts to strengthen its business model, build its brands, expand its offering and improve distribution capabilities, the company noted.
Petra has focused its business on branded consumer goods following the sale of its cocoa business to Barry Callebaut last year.
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