German chocolate maker Halloren has seen its first-half losses narrow, after benefiting from financial investments.
The company made a pre-tax loss of EUR760,000 (US$1.1m), down 12% from the same period last year because of financial investments the company made.
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However, earnings before interest, taxes, depreciation and amortization (EBITDA) fell to EUR830,000 in the first six months of the year from EUR1.14m a year earlier due to increased raw material costs. The company said it did not provide net income for first-half results.
Commenting on the outlook for the rest of the year, CEO Klaus Lellé said: “For the full year we expect to not only meet our revenue plan, but also the income planning.”
Revenues are expected to rise by 8% to EUR65m, the company added.
The chocolate maker also confirmed the expected achievement of solid earnings before taxes last year.
