Magnum Ice Cream Falls After Operating Profit Plunges

Magnum Ice Cream Co. shares fell as much as 16% in Amsterdam after the former Unilever Plc unit disappointed investors with a large drop in operating profit last year.

The group, which owns brands including Ben & Jerry’s, Magnum and Cornetto, said operating profit fell from €764 million ($907 million) to €599 million last year, hit by costs linked to its separation from Unilever and currency headwinds as the euro strengthened against the dollar and Turkish lira.