FDBusiness.com

Profits and Sales Fall at Zetar

 Breaking News
  • PepsiCo Targets African Growth in $1.7 Billion Deal PepsiCo has agreed to acquire all the outstanding shares of Pioneer Foods Group of South Africa for approximately US$1.7 billion. Pioneer Foods has a robust, locally relevant product portfolio that complements PepsiCo’s current line-up, with strong positions in cereals, juices, and other African nutritional food staples, including well-known, scaled brands like Weet-Bix, Liqui-Fruit, Ceres, Sasko, [...]...
  • WHO/Europe Studies Find Baby Foods are High in Sugar and Inappropriately Marketed For Babies Two new studies from WHO/Europe show that a high proportion of baby foods are incorrectly marketed as suitable for infants under the age of 6 months, and that many of those foods contain inappropriately high levels of sugar. WHO’s long-standing recommendation states that children should be breastfed, exclusively, for the first 6 months. Its 2016 [...]...
  • AB World Foods Selects e.fundamentals to Help Drive Online Sales AB World Foods, the ethnic foods division of Associated British Foods, has selected ecommerce analytics provider e.fundamentals to help drive sales of its products through retailers’ websites. AB World Foods, whose brands include Patak’s, Blue Dragon, Levi Roots and Tabasco, has become a client of e.fundamentals’ retail service, which continuously reports how brands are performing [...]...
  • AxFlow Holding Acquires Induchem Group in Ireland AxFlow Holding, the international fluid handling group that is active in all European markets, South Africa, Australia, and New Zealand, has acquired the Irish Induchem Group, the specialist provider of fluid handling solutions, which predominately focuses on valves, pipe solutions, mixers and pneumatics. Headquartered in Cork, the Induchem Group has four sites, located in Ireland and [...]...
  • AB InBev to Sell Australian Business For US$11.3 Billion to Asahi Group Anheuser-Busch InBev has agreed to divest Carlton & United Breweries (CUB), its Australian subsidiary, to Asahi Group Holdings for Au$16.0 billion, (US$11.3 billion) in enterprise value. The transaction represents an implied multiple of 14.9x 2018 normalised EBITDA. As part of this transaction, AB InBev will grant Asahi Group Holdings rights to commercialise the portfolio of AB [...]...

Profits and Sales Fall at Zetar

Profits and Sales Fall at Zetar
July 19
11:57 2012

Zetar, the UK-based confectionery and snack foods group, has reported a 17.5% drop in adjusted profit before tax to £5.5 million for the year ended 30 April 2012. Revenue dropped 5.0% to £128 million due to Zetar’s strategic exit from low margin commodity snack products and reduction in Easter confectionery sales. Net borrowings were reduced from £14.9 million to £10.8 million as the company remains focused on driving down levels of debt.

Ian Blackburn, chief executive of Zetar, comments: “Last year’s financial performance was disappointing primarily due to the late reduction in Easter 2012 sales, as our customers became increasingly cautious as the economic crisis in Europe unfolded. However, we continued to make good progress towards our main strategic objectives to increase the proportion of everyday and branded sales. Our portfolio of brands has been extended by the addition of the iconic brands Guinness and Tango, and we anticipate signing further well-known brands in FY2013.”

He continues: “We are optimistic about the new financial year following recent significant new everyday product wins and although consumer markets remain challenging, we are pleased that the year has begun in line with our expectations with underlying sales growth of 7%, to which may be added one-off sales in respect of Olympic gifting products of approximately £1.5 million in the first eleven weeks of the year. Last year’s cost initiatives are reflected in improved margins in the period. Accordingly the board is confident that the group’s results for the current financial year will be back on plan.”

Zetar has an ambitious business plan for the next three years in terms of revenue and margin growth targets. This will involves bolstering the company’s brand model with additional licensed brands for both divisions and capitalising on opportunities to drive private label sales as UK retailers seek to complement their value-for-money ranges with more premium added-value products. Zetar has also identified opportunities to expand its export sales, particularly into mainland Europe via the newly-formed subsidiary Zetar France.

The board’s confidence in the group’s future prospects and financial strength is reflected in its decision to increase the dividend by 33%.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • October 17, 2019Future Food-Tech
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements