The full-year results from French sweet and savoury pastry specialist Brossard tell the tale of its retreat from Russia.
The company conceded that the commercial investment its Russian subsidiary would have needed to succeed were just too heavy to be worth continuing the business.
Brossard’s annual sales for the year to 30 June totalled EUR124m (US$176m). Pre-tax profits stood at EUR3.3m, before writing off EUR1.6m from the closure of the unit in Russia.
Last year, Brossard posted a loss of EUR144,000.
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