The company also said in a statement that it expected 2009 to be a highly challenging year, and provided no profit targets for the year.
CCH plans to mitigate some factors by easing input cost pressures and implementing further cost reduction programmes. The company has already had to cut 150 jobs in Poland.
Despite net profit falling 93% in the fourth quarter to €3m, managing director Doros Constantinou was optimistic: “I remain confident that the underlying strength of our business and robust capital structure leaves us well placed for both the near and long term.”
Reported net profit was down 10% at €425m for the full year, while case volume experienced small growth of 5% compared to 2007. Net sales revenue rose to €6.9bn, 8% above 2007.
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