Petra Foods has suffered a net loss for the first quarter of 2014.

The Singapore confectioner reported for the period ended 31 March a net loss of 2.3% to USD$13.7m and attributed it to the costs associated with the divestment of the cocoa ingredient business.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

In addition the firm was hit by negative currency translation.

Sales were also down 3.3% for the quarter. While regonal markets performed better for Petra’s branded consumer division, posting an increase in sales of 6.2%, in the Indonesian markets, sale fell 6.5% against the same period last year.

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now