Atria has posted a fall in sales and profits for the third quarter of the year

Atria has posted a fall in sales and profits for the third quarter of the year

Finnish meat processor Atria has reported a fall in sales and profit for the third quarter of the year.

The firm attributed the decline to the sale of the Falbygdens cheese business and the weakening of the Russian rouble.

Net profit stood at EUR7.6m (US$8.3m), compared to EUR9.9m a year earlier. EBIT dropped to EUR15.1m from EUR16.2m.

Atria said sales also declined, reaching EUR337.1m, down from EUR364.4m a year earlier.. "Lower-than-usual sales during the barbecue season and intense competition," the company said.

Atria said its recent productivity drive at the Sahalahti plant will "remove overlapping functions" and will result in efficiency savings of EUR1.5m, which will be realised in the second quarter of 2016. The reorganisation of the company's Swedish operations will realise annual savings of EUR1.8m which will be shown at the beginning of the year. The group's modernisation operation at the Nurmo plant in Finland is expected to generate annual cost savings of around EUR8m it added.

For the nine-month period, net profit was EUR10.6m, compared to EUR12.6m in the corresponding period of 2014. EBIT, however, was higher at EUR24.2m from EUR22m for the same period a year earlier.

Net sales declined to EUR989.2m from EUR1.1bn.