ITALY: Ferrero profits jump 14% in 2014 as Kinder eggs sales soar | Progresiv
Italian confectionery group Ferrero reported a 14% rise in 2014 pre-tax profit to 907 million euros citing strong sales of its Kinder Joy chocolate eggs with small toys inside. The maker of Nutella chocolate spread said revenue rose 4 percent to 8.4 billion euros with sales volumes of Kinder Joy eggs jumping 29 percent. Sales of Kinder Bueno chocolate snacks rose 10 percent. 
Strong growth in the Middle East and good performances in markets from Brazil to Poland offset weakness in southern Europe, the group said in a statement. The privately owned multinational took the spotlight last month when its owner, Michele Ferrero, passed away at the age of 89. It is now headed by his son Giovanni, who has strongly denied the group could be put up for sale, quashing press speculation.
Ferrero said the company, rooted in Italy's northwestern Piedmont region, invested 537 million euros last year to boost production in markets such as Italy, India and China.
In an effort to secure supplies of hazelnuts, an ingredient in products such as Nutella and Ferrero Rocher chocolates, it bought Turkish family-owned group Otan. (www.reuters.com)
