Spainish chocolate supplier Natra rounded off the first quarter of 2014 with a consolidated turnover of €85.81 million, 2.7% less than during the same period last year.
The company, which is based in Madrid, yesterday posted a a loss of €2.3 million for the three months to the end of March. During 2013's Q1, Natra recorded a profit of €180,000.
In a statement, the company said that "this difference is mainly due to the impairment of the operational profitability of the business by the impact of higher cocoa prices in a period of low seasonality of cocoa and chocolate business, coupled with the change in the pattern of supply at Natraceutical (ingredients business partly-owned by Natra)."
The own-label specialist said sales in its cocoa and chocolate arm during the period fell from €4.9 million in 2013 to €2.7 million.
Total Group sales fell 1.6% to €75.71 million. Natra says it expects business to pick up in the second half of the year, when negotiations regarding Christmas contracts begin.
© 2014 - European Supermarket Magazine by Enda Dowling
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