UK confectioner and snack maker Zetar booked an increase in annual profits and said it anticipates further growth in its current fiscal year.
For the year to the end of April, adjusted profit before tax rose 40% to reach GBP6.4m (US$9.8m).
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Turnover was up 11% to GBP131.9m for the year, while adjusted EBITDA increased 15% to reach GBP9.6m.
CEO Ian Blackburn said: “We are pleased to report a much improved financial performance with sales, profits and earnings all growing strongly. Cash generated from operations has doubled, enabling us to reduce year-end net borrowings to just over GBP11m.”
Blackburn added that the firm is confident of realising its three-year organic sales growth plan.
“Encouragingly last year’s positive trading momentum has been sustained into the start of this year and, whilst we remain cautious due to the uncertain economic outlook, the board anticipates further growth in the current year,” he said.
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