UK: confectioner Zetar achieves full-year net income growth

The UK confectioner Zetar reported a 10.3% increase in net-income to reach GBP4.9 m (USD 7.9m) for the year ended 30 April 2011. According to the company, full-year revenue grew 2% to reach GBP 135 m, while adjusted profit before tax was up 6% to reach GBP 6.7 m.

Chief executive Ian Blackburn said: “We 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”.

It said that it has seen an “encouraging start” to the current year, with sales in the first eleven weeks up 6% year-on-year to GBP 17.2 m. Blackburn said Zetar has “ambitious” plans for the group to enhance revenue and margin over the next three years.