Food group Wessanen on Wednesday announced a fall in net profit of one-third in the fourth quarter of 2008 and cancelled its final dividend.

Total revenues however were up by 4.7%, from €411.5m in the fourth quarter of 2007 to €442.2m in the same period of 2008, Wessanen said in a statement.
Wessanen’s CEO Ad Veenhof resigned with immediate effect on Tuesday.
‘We have also taken precautionary cost-saving measures to support our operational plans for 2009 in the midst of deteriorating economic conditions,’ said acting CEO Frans Koffrie said. ‘At the same time, considering this current economic uncertainty, we believe it is not appropriate at this stage to provide a specific financial outlook for 2009.’