SWEDEN: H1 profits up at food ingredients group AAK
First-half profits have jumped 15% at food ingredients manufacturer AAK thanks to improved earnings across its business.
The Sweden-based company today (22 July) reported net profit of SEK311m (US$47.9m) for the six months to the end of June, up from SEK270m a year ago. EBIT was 13% higher at SEK486m.
However, revenue was down 4.6% at SEK8.05bn as lower raw material prices and foreign exchange hit the company's sales.
AAK said its operating profit per kilo increased thanks to a "higher proportion of speciality and semi-speciality products".
Click here for the full statement.
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