Apetit reports mixed numbers for the first nine months of the year

Apetit reports mixed numbers for the first nine months of the year

Apetit has reported mixed results for its food arm during the first nine months of the year. 

Referring to its food business segment for the period of January to September, the Finnish food firm said operating losses on an adjusted basis were higher at EUR4.4m (US$4.8m) compared with EUR1.5m.

Reported operating losses were lower at EUR8m compared with a loss of EUR11.7m on the back of lower recurring item costs.

Sales for the division fell to EUR122.5m from EUR124.7m. Apetit said this mainly came from a decline in sales in the fish products group in Sweden and in the fresh products group.

Apetit blamed poor sales in the third quarter on a "challenging" market for retail trade and the professional foodservice sector in Finland. . According to Statistics Finland, sales in the Finnish retail trade contracted 2.2% in January–August on the corresponding period in 2014.

Apetit's food division sales for the period fell to EUR40.1m from EUR40.2m.

Operating profit for the division however was higher at EUR0.5m from EUR0.1m, thanks to "good profitability" in frozen foods. Reported operating losses were lower at EUR3.8m compared with EUR10.2m.

Overall, the business recorded a lower net loss for the nine month period of EUR6.8m compared with EUR12.1m.

Sales for the group during the nine month period were up at EUR267m from EUR264m which Apetit attributed to an increase in its grains and oilseeds business.