View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
November 4, 2013

FINLAND: Atria profits plunge on Russia exit

Finland-based meat firm Atria Group has booked a drop in earnings during the first nine-months of the year and warned that exit costs associated with its withdrawal from Russia will hit the full-year result.

Finland-based meat firm Atria Group has booked a drop in earnings during the first nine-months of the year and warned that exit costs associated with its withdrawal from Russia will hit the full-year result.

During the first nine months of the year EBIT fell to EUR9.1m, down from EUR22.4m last year. Profit before tax fell to a loss of EUR200m, down from EUR12.9m.

The company said that sales were hit by one-off costs and highlighted its decision to exit the pork sector in Russia in particular. The move resulted in impairment costs totalling EUR23m.

Sales, however, were up at the protein group. Nine-month sales rose to EUR1.05bn, up from EUR982.9m in the comparable period of 2012. Gains were driven by an increase in revenues generated in Finland.

Click here for the full release.

Related Companies

Topics in this article: ,
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every other month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Food