Greek food group Vivartia has posted a dip in first-quarter profits despite a jump in revenues.
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The company said net profit for the first three months of the year had dipped 4.7% to EUR12m (US$16.1m).
Vivartia, formed last year with the merger of dairy group Delta Holdings and snacks maker Chipita International, said it was lapping a strong first quarter of 2006.
Revenue rose 14.3% to EUR245.9m due to “significant growth” across the business, Vivartia said. The company added that it had seen sales rise both in Greece and from its operations in south-east Europe.
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By GlobalData
