date:Aug 09, 2012
CSM's bakery unit, which supplies ready-made muffins and croissants, bread and pastry mixes, was put up the unit for sale in May 2012. CSM blamed weak consumer spending and high raw material costs for the move and added that it would direct its efforts on more profitable natural products.
For the first half year of 2012, earnings before interest, taxes and amortisation (EBITA) excluding exceptional items decreased 8% to 73.7m, while net sales increased 6% to 1.62bn.
CSM, based in based in Diemen