Scandinavian meat group HKScan plans to focus on product development and brand building in order to grow the proportion of sales it generates from added value products. Katy Askew spoke to Magnus Sjohlm, VP of business development, at this year's Anuga to find out more about the company's new-found focus on NPD.
Scandinavian meat-to-convenience foods group HKScan has downgraded its operating profit forecast for 2013 today. While the company has delivered on the turnaround plan it unveiled last year, it said export pressures and a shift in its product mix would hit EBIT. Nevertheless, CEO Hannu Kottonen insists HKScan will continue to drive operational improvements in the coming 12 months.
The sale of HKScan's shares in a venture in Poland helped grow the Finland-based meat processor's first-half profits but the company saw revenues fall in the six months to the end of June.
HKScan has announced it is to make job cuts as it plans to restructure its domestic business.
Weaker-than-expected demand has led Finland-based meat group HKScan to warn its underlying operating profit will not reach the level it had hoped in 2014.
HKScan has booked a drop in first-quarter operating earnings as cost savings failed to offset weak demand and price pressure.
Over 20 Swedish food companies have signed a commitment to only use "responsible" soy by the end of next year.
Moscow's decision to ban EU shipments of pork products entering Russia is "clearly disproportionate, discriminatory and not based on science", Brussels said today (30 June) as it detailed why it had asked the WTO to intervene.
- M&A Watch: Raisio should sell to private equity
- Infographic: Snapshot of Japan's food sector
- On the money: Solid Lindt outpaces chocolate peers
- Spotlight: What could be impact of Russia's ban?
- On the money: Hain expects continued organic gains
- Russian government eases ban on food imports
- Pork Farms buys Kerry Group's pastry plants
- Kerry cools claim spreads move could hit jobs
- Dr Oetker to buy McCain North America pizza arm
- Profits up at chocolate group Lindt