FINLAND: Candy Plus boosts Raisio profits
Candy Plus factor in better operating profit at Raisio, despite lower sales
Finland-based food group Raisio today (13 February) reported higher annual profits, helped by improved sales from confectionery arm Candy Plus.
Raisio's net profit more than doubled from EUR12m (US$16.4m) in 2012 to EUR26.2m in 2013. Its bottom line in 2012 had been hit by a spike in financial expenses.
The company upped its operating profit despite lower sales. Net sales were down 4.5% at EUR557.6m, in part due to 2012 including businesses Raisio sold over the last year, including a non-dairy division.
However, the Honey Monster owner also pointed to a fall in breakfast cereal sales in the UK due to "low promotional levels" and, notably, "negative publicity related to sugar".
Nevertheless, EBIT was up from EUR31.7m in 2012 to EUR33.6m in 2013. Raisio said EBIT from its branded business rose from EUR34.9m to EUR35.7m. The company said its acquisition of Candy Plus, struck in November 2012, helped earnings from its business in western Europe.
Sales of Benecol products helped branded profits in northern and eastern Europe. However, Raisio said EBIT from the Benecol business itself fell due to decreased sales volume of plant stanol ester and contract manufacturing.
Breakfast cereals is set to record a marginal decline in retail volume sales in 2012, while retail value sales are set to increase by 2%. Value sales of breakfast cereals also increased by 2% during 2...
While volume sales were sluggish in many categories in 2012, retail current value sales saw healthy growth. However, value sales did not exceed the growth in 2011, despite the raised sweets tax in Jan...
Finnish food group Raisio has announced plans to restructure and streamline its agricultural arm, Raisioagro, with the loss of 43 jobs at the unit....
Gluten is a protein composite primarily found in wheat, barley, rye, and triticale. Gluten-free food is either free of ingredients that contain gluten or does not contain grains that are gluten rich. ...
Health and wellness food products can be defined as foods and beverages that are specially formulated and distinctively marketed to provide a distinct health or functional benefit to the consumers. Th...
- On the move: What's in store from Tesco's new CEO?
- On the money: Can Premier build H2 sales momentum?
- Focus: Lindt plays safe with Russell Stover buy
- On the money: Steady as she goes at Cloetta
- Interview: Bell hits out at German cartel ruling
- UPDATE: Premier establishes international unit
- Campbell issues warning on 2014/15 fiscal year
- S&A Foods announces restructure, 55 jobs to go
- Universal Robina to buy biscuit firm Griffin's
- Premier launches Oxo pots range in UK