STOCKHOLM, Sweden, Aug. 16, 2002 (PRIMEZONE) -- The Cloetta Fazer Group reports an operating profit of MSEK 155 (155 for comparable units 2001). Sales increased to MSEK 1,379 (1,363). The operating margin was 11.2 per cent (11.3) and the half-year profit after financial items was MSEK 160 (164). Earnings per share after tax were SEK 4.76 (4.64). Profit after financial items for the second quarter decreased to MSEK 67 (78).
"Cloetta Fazer has had a very good first six months. The decline during the second quarter compared with the year before is partly due to the fact that the Easter holiday, which is so important for sales, fell early this year," said Cloetta Fazer's new CEO Karsten Slotte. "The warm early summer also had an adverse impact on sales during the second quarter. At the same time, we have observed that sales are once again increasing during July.
"Sales also declined slightly in Poland during the second quarter. This was due in part to the fact that we have revised our sales strategy there, entailing a weeding-out of the customer structure," continued Mr. Slotte.
"We continue to win market share in Sweden and Finland, and sales of our key brands continue to increase. On the Finnish market alone, sales improved by 7 per cent during the first six months of the year," he concluded.
Investments in plant and equipment amounted to MSEK 55 (40). The average number of employees during the first half of the year was 2,072 (2,089).
About Cloetta Fazer
The Cloetta Fazer Group is the Nordic region's largest chocolate and confectionery company, with a market share of 25%. The company has its own production facilities in Sweden, Finland and Poland and sales companies in all of the Nordic countries. The company's strength lies in its many strong brands such as Fazer Bla, Kexchoklad, Dumle, Geisha, Center and Polly.
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