Swedish confectioner Cloetta reports stronger earnings on higher branded sales and cost controls despite mixed organic growth.
Cloetta AB (CLOEF) reported adjusted operating profit of SEK 310M for the period, up 29% year-over-year from SEK 240M. Net sales reached SEK 2,087M, a 0.4% increase, while organic sales grew 0.8%.
Branded packaged products drove growth with a 3.3% organic sales increase, offsetting a 4.6% decline in Pick & Mix sales. Earnings per share rose to SEK 0.77 from SEK 0.41 in the prior year.
The results reflect improved margins and volume gains in core brands, though overall sales growth remained modest.