07/04/2016 | International
Fazer Group hails improved profit, but the net sales slide
In 2015, Finland’s Fazer Group continued to improve its performance in a demanding and highly volatile operative environment.
Although the group’s reported net sales (€ 1.57 bn), means a 4% decrease from 2014, the operating profit increased to € 44.9 m. The operating profit before amortisation of goodwill was € 80 m. 2015 was a challenging year for Fazer Bakery, but focus on consumer insight, strong brands and innovative novelties – together with efficiency in operating expenses – kept the results on target. The successful roll-out of its bake-off concept was overseen in Russia, where Fazer is the leading bakery company in the major markets of St Petersburg and Moscow. Fazer Confectionery enjoyed a strong year in 2015. Sales declined in sugar confectionery to some extent, but business developed well in chocolate. The chocolate category‘s good results were aided by the launch of attractive novelties and the focused work of the entire business area.