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  • BY: Andrew Hore |
  • POSTED: 15/05/2012 |

Poor Easter sales and the exit from low margin snack products meant that revenues fell at Zetar last year but trading was in line with expectations. 

Confectionery sales still rose 2% to 88m in the year to April 2012 but snack sales were 18% lower at 40m.

Group revenues fell 5% to 128m. It could have been better because the retailers who had ordered lower volumes sold out of several product lines before Easter. The Derwent Lynton acquisition has been integrated and its factory in Derby closed.  Reorganisation costs were 800,000 and cost savings have led to a 500,000 charge. Net debt has been cut from 14.9m to 10.8m helped by an earlier Easter.

Zetar has won 13m of new business for this year and a greater proportion of confectionery sales are outside of the key periods, such as Easter and Christmas. Guinness branded chocolate and nuts will be in the shops this summer. Other brand licences are being negotiated. Some UK character licences are being extended to France and Belgium. There were set-up costs in France of 300,000.

Shares in Zetar rose 7p to 192p, which values the confectionery and snacks supplier at 25.2m.

Full year figures will be published on 18 July.

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