Zetar, the UK snacks and confectionery group, said today (23 April) that full-year profits will be “in line” with the previous 12 months due to losses at its new snack unit.
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In a trading update ahead of its results on 30 April, Zetar said its Baked Snacks Company division had incurred start-up losses of GBP1m (US$2m) after a clutch of product launches were postponed.
The division was formed last May after the acquisition of snacks firm Britannia.
Nevertheless, Zetar said annual revenue would rise 15% to GBP110m, thanks to growing sales of confectionery and “natural and premium snacks”.
Confectionery sales rose 11% to GBP68m, Zetar said, while snacks sales reached GBP40m. The Baked Snacks Company generated sales of GBP2m in its first few months of operation.
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By GlobalData
