Atria lifts EBIT forecast

Atria lifts EBIT forecast

Finland-based meat products group Atria, which was expecting its annual underlying operating profit to fall, today (13 November) forecast its EBIT would match that generated in 2013. 

The company issued a profit warning in April when it forecast EBIT - excluding non-recurring items - would be "clearly short" of the EUR37m (US$46.1m) booked last year, pointing to an over-supply of pork and "tougher" competition.

However, Atria said this morning it now sees its EBIT reaching "the same level" of 2013.

"Atria has been able to improve its sales structure and cost efficiency better than expected. In Russia the strong increase in raw material prices has stabilised in October, however there are still ongoing challenges in the Russian business environment," the company said.