Denmark-based meat co-op Danish Crown has posted what it called a “stable” first-half performance, with sales and operating profit up but its bottom line hit by an asset disposal.
Danish Crown reported a 4% increase in operating profit to DKK974m (US$1.25bn) for the first half of its 2012/13 financial year.
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Revenue was up 3.4% at DKK28.51bn amid “slightly better” prices for fresh meat, the co-op said. It added its processing arms had been able to pass on on higher raw material prices.
However, Danish Crown’s net profit fell 3.1% to DKK714m. A spokesperson said the sale of “a big part” of its animal by-product venture DAKA hit earnings.
