Cloetta reports small sales increase
21 October 2010 – Sales of Cloetta’s products rose by 8% during the financial year to 914 million Swedish krona (€98m) with an operating profit of 35 million krona (€3.7m).
Cloetta’s managing director and CEO Curt Petri says, “Earnings were impacted by rising raw materials costs despite strengthening of the Swedish krona and price increases.”
In the fourth quarter, sales of Cloetta’s products rose by 2%. “Cloetta’s fourth quarter is the weakest of the year, as consumption of confectionery is normally lower during the summer months,” says Petri. “We are now entering our first quarter, which includes the Christmas sales and is our strongest period.”
“As a result of completed equipment investments and Fazer’s decision to transfer production of certain products to Finland, we have been forced to downsize our production staff,” concludes Curt Petri.
By Jessica Lowry
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