NORWAY: Synnove Finden posts Q3 losses
Norwegian dairy company Synnove Finden ASA has reported a third quarter net loss from continuing operations of NOK3.1m (US$479,000), down from a profit of NOK3.2m posted for the comparable period of last year.
Synnove Finden's continued operations generated revenues in the quarter of NOK210.9m.
In a statement to the Oslo stock exchange, the company noted its intention to sell its lunch solutions subsidy, Nordic Lunch, to the Bama Gruppen for NOE90m. Consequently this business was listed under discontinued operations, profits from which totalled NOK4.4m on revenues of NOK76.3m.
The company said that it anticipated difficult trading for the remainder of the year, but predicted an improved financial performance in the first half of FY2007.
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