Cloetta slumps as higher sugar tax in Norway bites
25/01/2019 13:01
** Shares in Swedish candy co CLOEb.ST down 7.5 pct after
Q4 results
** Says packaged confectionery market grew in Sweden,
Finland, Denmark and the Netherlands but volumes decreased in
Norway, due to increased sugar tax
** Pick & mix sales declined by 13.5 pct, mainly due to lost
contract in Sweden and extremely weak sales in Norway
** "The negative sales development within pick & mix needs
to be turned around and the EBIT margins within this area needs
to improve," CEO says
** Shares set for worst day since Sept 2017
((Tommyalexander.lund@thomsonreuters.com))