Confectionery and snack foods group Zetar Plc's (ZTR.L) full-year sales and pre-tax profit is in line with current market view, also reporting encouraging new business wins in new financial year. During the year ended April 30, 2012, the Group said it made progress towards its strategic aims of increasing the proportion of everyday sales and extending its portfolio of branded products.
The company said an encouraging growth in everyday sales was offset by the strategic exit from a significant volume of low margin commodity snack products and more recently a reduction in anticipated Easter confectionery sales resulting in a 5% reduction in overall Group revenues to 128 million pounds in line with current market view. Accordingly adjusted pre-tax is also expected to be in line with current market view.
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