“Outstanding” sales in Colombia have led to a group sales jump of 22.6% for Grupo Nutresa however higher taxes saw full year profits hit.
For the year the food maker recorded sales of COP7.9trn (US$2.3bn). Sales rose on increased volumes and an average price increase.
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“This was due to the relevance of our portfolio that meets the needs and possibilities of an increasingly demanding consumer, as evidenced by obtaining a record 61.1% weighted market share in Colombia,” the group said in a statement.
Colombian sales represented 61.9% of total sales revenue for the year at COP4.9trn. International sales made up the remaining 38.1% at COP3trn and were 32% higher than last year.
Operating profit grew 15.8% to COP782.7bn.
Net profits however were hit by a 26% increase in income tax, primarily due to the surcharge in income tax for equity. Net profits fell 27.1% to COP428.2bn.
On an adjusted basis however net profit rose 4.3% to COP428.2bn.
