Brief: Cloetta Q4 EBIT decreases 9 pct on one-off costs
18/02/2016 07:01
(Repeats without changes to text to cover additional snaps)
Feb 18 (Reuters) - Cloetta AB CLOEb.ST
* Says board proposes a dividend of SEK 0.50 (-) per
share.
* net sales for quarter increased by 2.7 per cent to SEK
1,622 million (1,579), including a positive impact from foreign
exchange rates of 0.2 per cent.
* Q4 operating profit was SEK 239 million (262)
* Says compared to the same quarter of last year, operating
profit was affected by increased one-off costs, mainly related
to the planned closure of the factory in
Dieren, the Netherlands. Last year was impacted by a large
one-off effect in the fourth quarter that improved the operating
result
* Q4 EBIT margin was 14.7 per cent (16.6)
* Operating profit margin, adjusted, declined during the
quarter mainly as a result of the performance of one of the
acquisitions
* Says with regard to sales and profitability, Lonka
developed according to plan during quarter
* Says when cost synergies from acquisition of Lonka have
been realized, we expect these to support Cloetta's target of an
EBIT margin of 14 per cent in 2017
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(Stockholm Newsroom)
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