Zetar boss takes another bite

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By Rory Gallivan

Date: Thursday 24 Apr 2008

LONDON (ShareCast) - Zetar chief executive Ian Blackburn spent more than £100,000 on shares in the snack foods company yesterday after a mixed trading update.

He bought 30,000 shares at 348p a share through his self investment pension plan (SIPP) and 4,300 shares for 330p each, paying a total of £118,590.

The purchases bring his stake in Zetar, where confectionery arm Kinnerton makes character-based products such as Winnie the Pooh lollipops and Barbie candy lipstick, to 371,600 shares, or around 3.23%.

Zetar said yesterday that operating profits for the current financial year are unlikely to show any improvement on last year’s figures.

The group said that sales in its confectionery division, which includes Kinnerton, in the year to 30 April 2008 are expected to be up 11% to £68m from £61m a year earlier.

Easter arriving earlier than usual compressed confectionery sales into a shorter selling period and caused the cancellation of some late “white label” orders, but the group still expects this division’s operating profit for the full year to be ahead of last year.

Kinnerton acquired Irish luxury chocolates manufacturer Lir in December last year. As well as Kinnerton, Zetar has a natural and premium snacks division comprising dried fruits specialist Readifoods and Humdinger.


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