NZ Snack Foods FY profit falls 50% after costs rise faster than sales, brand impairment charge

Thu, 19 Jul 2012

By Hannah Lynch July 20 (BusinessDesk) - NZ Snack Foods, the private equity controlled owner of Griffin’s, ETA and Nice and Natural food products, posted a 50 percent drop in annual profit as costs rose faster than sales and it took an impairment charge against one of its brands. Profit fell to $8.2 million in calendar 2011, from $16.2 million a year earlier, according to the Auckland-based company's financial statements posted on the Company's Office website. Sales rose 4.5 percent to $276 million, while the cost of sales rose 7.2 percent t...

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