Petra Foods has suffered a net loss for the first quarter of 2014.
The Singapore confectioner reported for the period ended 31 March a net loss of 2.3% to USD$13.7m and attributed it to the costs associated with the divestment of the cocoa ingredient business.
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In addition the firm was hit by negative currency translation.
Sales were also down 3.3% for the quarter. While regonal markets performed better for Petra’s branded consumer division, posting an increase in sales of 6.2%, in the Indonesian markets, sale fell 6.5% against the same period last year.
