Confident Zetar expects growth

By Catherine Boal

- Last updated on GMT

Related tags: Snack foods, Profit

Confectionery firm Zetar has said it is confident of meeting
targets this year despite a quiet trading season.

At its AGM this week, the company, who own children's confectionery maker Kinnerton, was optimistic about the industry and hopeful of growth at the group.

Chocolate sales are generally seasonal with Easter and Christmas providing the biggest draw for consumers but Zetar aims to build on its significant expansion this year and branch out into the snack industry to supplement its income from confectionery sales.

Chief executive Ian Blackburn said at the meeting: "Operations have continued to perform in line with the board's expectations for this seasonally quiet trading period. Opportunities exist for further growth within the confectionery, snack foods and related markets which the company is actively pursuing. The board remains confident of Zetar's prospects and expectations for the full year."

In March, Zetar took over Readifoods International - an ingredients and snack company specializing in dried fruit and nuts - in a deal worth £4.2m (€6.2m).

This acquisition was followed in July by the takeover of Humdinger for a sum of nearly £13m (€19.2m).

Humdinger is an importer, processor and distributor of ambient foods such as organic dried fruit.

The core company in Zetar's portfolio remain Kinnerton who increased sales this year by 14 per cent to 57.1m (83.7m) and own several profitable licensing agreements allowing it to use a number of children's characters such as The Simpsons, Barbie and Winnie the Pooh.

Last month's preliminary results for Zetar as a whole showed sales of £59.1m (€87.3m), and an operating profit of £4.8m (€7.1m).

Related topics: Markets

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