6 November 2006 - Zetar, the AIM listed confectionery and snack foods group, is pleased to announce the following trading update in advance of its results for the six months ended 31 October 2006, which will be announced during January 2007.
Following three acquisitions during 2006, the Group now comprises two divisions, as follows:
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• Confectionery division
- ?? Kinnerton
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- manufacturer of niche and novelty chocolate
products (acquired April 2005)
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- ?? Salamanda
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- manufacturer of premium chocolate and yoghurt
coated fruit and nuts (acquired October 2006)
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• Natural & Premium Snacks division
- ?? Readifoods
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- processor of premium nuts and dried fruits (acquired
March 2006)
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- ?? Humdinger
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- processor and supplier of premium quality dried fruits,
nuts and "healthier" fruit snacks including crisps and
bars (acquired July 2006)
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Zetar has made healthy progress during the six months ended 31 October 2006. Continued strong growth at Kinnerton was supplemented by the acquisitions of Readifoods, Humdinger and Salamanda and their integration into the enlarged Group.
Group sales for the six months ended 31 October 2006 exceeded £37 million, compared to £21.9 million for the same period last year.
This performance reflects a successful second quarter from Kinnerton, with strong Christmas deliveries of both Kinnerton brand and private label products following the seasonally quiet first quarter. Also, initial contributions from Readifoods and Humdinger are very much in line with original expectations.
Further acquisition opportunities in the UK and Europe are being evaluated. The Group’s acquisition strategy and organic growth is developing on plan and we believe that we are well placed to take advantage of the trend towards healthier snacking. Overall, the Board remains comfortable with market expectations for the full year.