Swedish confectionery firm Cloetta Fazer has announced a further expanded market share in Sweden and Finland, posting second quarter sales of SEK656m (US$91.83m).
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Net sales for the first six months of 2006 increased by 25%, reaching SEK1.4bn.
The firm’s largest individual brand, Karl Fazer, grew by 27%, due in part to the launch of Marianne Crisp and Karl Fazer Exclusive products during 2005, the company said.
Despite the sales gains, first-half profit at the Nordic region’s leading confectioner was down by SEK13m compared with the same period last year.
The company cited increased marketing expenses associated with new products and higher raw material costs as prime reasons behind for the shortfall. In addition, the global market price for cocoa rose during the spring due to factors such as rising demand for certain cocoa grades, the company noted.
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By GlobalDataCloetta Fazer CEO Karsten Slotte said: “The spring’s focus on product innovations and new product launches has been highly successful and sales of the prioritised brands have continued to rise.
“We are especially pleased with the improved sales in Norway after changing our distributor to Galleberg, sales for the first half of the year were up by 25% compared with the same period of 2005.”
