Zetar Annual Revenue Up 2%
Gross profit for 2011 was Â£27.32m, compared to Â£26.81m in 2010. EBITDA reached Â£9.8m (2010: Â£9.6m) representing 7.2 percent of sales.
Adjusted operating profit was up 3 percent at Â£7.5m compared to Â£7.3m in 2010 and adjusted profit before tax was up 6 percent at Â£6.7m (2010: Â£6.4m).
Despite the difficult trading environment experienced by the Natural Snacks division, Group sales and adjusted operating profit for 2011 increased by 2 percent to Â£135m (2010: Â£131.9m) and by 3 percent to Â£7.5m (2010: Â£7.3m) respectively.
The Confectionery division delivered sales of Â£85.9m in 2011 up 3 percent year-on-year (2010: Â£83.2m) and adjusted operating profit up 22 percent to Â£5.7m (2010: Â£4.7m).
Ian Blackburn, CEO of Zetar, said: â€œWe are pleased with the progress made during a year of many challenges. In particular, our Confectionery division achieved a record result reflecting a continued increase in everyday sales and improved mix of higher margin products allied to further cost efficiencies. The margins in our Natural Snacks division improved significantly in the second half as price increases were implemented following the dramatic rise in commodity prices, and more branded products were sold.
"We have set ambitious plans for the Group to enhance revenue and margin over the next three years. Our key focus is to drive sales of premium private label and branded products across both divisions. We have made good progress in the past year on extending our portfolio of innovative snack products sold under renowned brands, including Branston and Ambrosia.â€
Have your say and discuss with your peers on the InfoGrok community.
Participate by posting your comments now.