Rival Finnish meat companies HK Ruokatalo and Atria Group have both announced a decrease in profits despite sales increases during the 2005 financial year.
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Finnish processing company HK Ruokatalo’s net profit decreased for the year – at EUR28.8m (US$34.1m), compared to EUR31.1m the previous year.
The company blamed unsatisfactory earnings and operating profit at home, with business outside Finland accounting for 42.3% of all profit.
National rival Atria Group Oyj’s net profit also fell, to EUR27m, during the 2005 financial year, from the heights of EUR33.7m in 2004.
Atria’s results, reported by the Finnish News Digest, showed group sales up 17.2% and a boost in earnings, thought to have benefited from recent mergers and acquisitions.
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