Cloetta Fazer reports higher sales but lower profit for first half of 2008 Cloetta Fazer's net sales for the second quarter rose by SEK 80 million to SEK 738 million. Operating profit amounted to SEK 7 million (33) excluding a goodwill impairment charge of SEK 90 million arising from the upcoming demerger of Cloetta Fazer. Operating margin was 1% (4.9%). "Like the first quarter, the second quarter of 2008 was characterised by lower gross margins resulting from increased raw material costs and higher selling and marketing expenses," says the company's CEO Jesper Åberg. Total sales for the first half of the year rose by 9% to SEK 1,520 million (1,398). The increase in sales for the period is mainly explained by acquisitions and volume growth. Operating profit for the first six months excluding the impairment charge of SEK 90...
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