Colombia's Nutresa reports H1 profit down 4.5 pct from year ago
BOGOTA, July 31 (Reuters) - Colombian food group Nutresa said on Thursday net profit fell 4.5 percent in the first half of the year to 168.4 billion pesos ($90 million), mostly due financial costs linked to an acquisition.
Nutresa, Colombia's biggest processed food company, said it bought Tresmontes Lucchetti during the period, chalking up one-off debt costs it did not have in the year-ago period.
In an emailed statement, Nutresa said it had total sales, including overseas units, worth 3 trillion pesos, up 14.9 percent from the first half of 2013.
In Colombia alone, sales rose 7.7 percent to 1.9 trillion pesos. Nutresa attributed the increase to an improved economy that has allowed residents to spend more on foodstuffs as well as better distribution nationwide of its frozen and dried products.
Earnings before interest, taxes, depreciation and amortization rose 11 percent to 417.6 billion pesos, Nutresa said. (Reporting by Helen Murphy; Editing by Marguerita Choy)
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