Late Easter hits Purity profit

Consolidated Bakeries proift down in Q1.

Consolidated Bakeries suffered a reversal in fortunes in their first quarter results to March this year, with Easter falling in mid-April.

Easter was celebrated towards the end of March last year resulting revenues for Easter buns being reflected in full during the first quarter. Revenues for the recent quarter fell  to $228 million from $261 million last year and profit declining from $22.8 million down to $5.8 million in the latest quarter.
Administrative, Selling and Distribution cost were effectively flat during the quarter versus that of the 2016 period. Gross profit margin ended at just over 36 percent compared to 37 percent in 2016. Earnings per share end at 3 cents in 2017 and 10 cents in 2016.

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