NZ Snack Foods FY profit falls 50 pct. on costs, impairment
NZ Snack Foods, the private equity controlled owner of Griffins, ETA and Nice and Natural food produ…NZ Snack Foods, the private equity controlled owner of Griffins, ETA and Nice and Natural food products, posted a 50 percent drop in annual profit as costs rose faster than sales and it took an impairment charge against one of its brands.
Snack Foods took a usd. 2. 5 million impairment charge against its Nice and Natural brand last year, the results show. The muesli, nut and baked bar maker took the charge after a change of supplier of the Strings brand fruit rollups, having determined it would not recover anything from the distribution rights, according to the notes.
