Sweet maker Tangerine swallows plummeting profits
The Blackpool maker of sweets like Sherbet Fountains, Dip Dabs, Black Jacks and Refreshers and popcorn Tangerine Confectionery has suffered the bitter taste of 65% falling profits as the national debate over sugar raged.
High exchange rates at the end of 2015 and in the first half of 2016 also played their part as European competitors took advantage in the UK market.
Both these factors contributed to nosediving pre-tax profits of £3.26m for the year ended December 31 (2015: £9.44m).
Turnover was down to £139.3m from 2015â... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
