SWEDEN: Sardus full-year profit falls short of forecasts
Listed meat processor Sardus, has reported 2000 full-year pre-tax profit up 20% to SKr91m, falling short by SKr6m of its forecast in October. The group blamed tougher competition and changes in its product mix that had not contributed to results as planned.
Sales increased by 29% to SKr1.17bn. Much of the increase was due to the consolidation of its Danish 3-stjernet A/S acquistion.
For this year, Sardus said it saw compition and market prices develop in line with last year, given wholesale meat prices remained steady, and it forecast full year pre-tax profit of SKr75m.
The Swedish meat market has not of yet been severely affected by the BSE crisis affecting large parts of Europe.
By just-food.com correspondent based in Scandinavia
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