Breaking News on Confectionery & Biscuit Processing

News > Manufacturers

News in brief

Financial Briefs: Tootsie Roll, Petra Foods and Meiji

Post a comment

By Oliver Nieburg+

Last updated on 25-Aug-2014 at 14:23 GMT

Financial Briefs: Tootsie Roll, Petra Foods and Meiji

Increased interest in cocoa polyphenols helped Japanese confectioner Meiji grows sales in its latest financial results, while Petra Food and Tootsie Roll also reported sales growth in Q2.

Meiji: Interest in cocoa polyphenols

Japanese firm Meiji grew sales in the first quarter of the Japanese financial year.

Q1 2015 revenues in its confectionery segment grew 7.8% to JPY 46.1bn ($444m), while the company’s net profit for the division

“Net sales of chocolate increased year on year. Increased consumer interest in cacao polyphenol[s] helped drive significant growth of our bitter chocolate products such as Chocolate Koka series,” said the firm.

It added that gummie sales were also up due to the redesigned packaging and launch of new flavors for the Kaju Gummy brand. However, chewing gum sales continued to decline, following the overall market trend.

Petra Foods grows in the Philippines

Singapore-based Petra Foods posted its Q2 results on 13 August. The firm reported value sales of $131.8m, up 5.3% from last year. However, net profit for the quarter was down 10.4% to $13.2m.

Indonesia remained the firm’s biggest sales contributor, accounting for 73% of the group’s sales, but the firm registered its strongest growth in the Philippines. The company is also active in Malaysia and Singapore.

“Petra Foods’ strong showing in the Philippines reflected the success of its investment to enhance its route-to-market capabilities and strengthen its portfolio of Own Brands through aggressive new product launches with extensions into other categories including chocolate spreads,” said the firm. The company’s CEO John Chuang added that Petra Foods would invest to improve its manufacturing capacity to capitalize on the growing South-East Asian chocolate confectionery market.

“We are also constantly exploring possibilities to enter new markets to expand our regional footprint and to extend into new categories,” he said.

Tootsie uptick

Elsewhere, US firm Tootsie Roll industries reported growth in Q2 sales and net profits. The firm posted revenues of $104m, up 2%, while net profits were up 8% to $9m.

“Second quarter and first half net earnings benefited from a more favorable ingredient costs as well as plant efficiencies…,” said Tootsie Roll chairman Melvin J. Gordon.

Subscribe to our FREE newsletter

Get FREE access to authoritative breaking news, videos, podcasts, webinars and white papers. SUBSCRIBE

Post a comment

Comment title *
Your comment *
Your name *
Your email *

We will not publish your email on the site

I agree to Terms and Conditions

These comments have not been moderated. You are encouraged to participate with comments that are relevant to our news stories. You should not post comments that are abusive, threatening, defamatory, misleading or invasive of privacy. For the full terms and conditions for commenting see clause 7 of our Terms and Conditions ‘Participating in Online Communities’. These terms may be updated from time to time, so please read them before posting a comment. Any comment that violates these terms may be removed in its entirety as we do not edit comments. If you wish to complain about a comment please use the "REPORT ABUSE" button or contact the editors.

Key Industry Events


Access all events listing

Our events, Events from partners...