Finnish food group Raisio has announced a 30% jump in net sales for the second quarter.
The Benecol manufacturer’s net sales rose to EUR150.5m (US$216m), up from EUR115.7m in the second quarter of 2010.
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Raisio said sales from its brands and business-to-business division grew. It also pointed to “good sales development” in the UK and said it benefited from higher raw-material prices.
Raisio’s EBIT from continuing operations totalled EUR10.2m (US$14.6m), up from EUR5.9m a year earlier.
While profitability from Raisio’s the brands division was described as “ordinary”, results from the business-to-business division improved, in part due to the company’s sale of its malt business to Viking Malt in June, gaining EUR4.8m (US$6.9m) as a result of discontinued operations.
Raisio chief executive Matti Rihko said: “Raisio continues implementing its growth phase according to plan. We expect net sales growth for 2011, especially for the brands division.”
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By GlobalDataHe added: “In terms of the group’s development, it remains essential to pay attention to the impact of raw material price volatility on net sales.”
Rihko also hinted at expansion plans arising from the faltering economic climate.
He said: “Raisio’s second quarter was completed without disturbances affecting the business and the integration of acquisitions has proceeded well. The economic crisis also opens up interesting prospects for future acquisitions.”
