Cloetta Fazer: rise in profits

Announcing second quarter figures, Cloetta Fazer reported profit after tax was up 12 % to approximately € 6.9 m. Operating profit was said to be approximately € 6.5 m (+ 16 %). The concern explained growth had been driven by a steady increase in sales on home markets Sweden and Finland, the result of introducing innovative products and strengthening of core brands such as Dumle, Kexchocolad and Center.The plant at Norrköping, the smallest in the group with a capacity of 5,800 tons and 100 employees, is to be closed at the end of 2005. Production will be moved to the factory in Ljungsbro.