Finnish meat processor Atria returned to profit in its first half as sales increased in each of its divisions.
In the six months to the end of June the company reported a pre-tax profit of EUR4.8m, compared to a loss of EUR200,000 last year, the group reported today (25 July).
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Consolidated EBIT reached EUR10.9m from EUR6.8m last year. Sales totalled EUR692m, up from revenues of EUR641.8m in the same period of 2012.
Domestically, Atria’s sales were up EUR43m to EUR436m in the first half, but EBIT was “weighed down” by the high price of domestic meat raw material and a decrease in export prices. EBIT amounted to EUR14.1m from EUR13m last year.
Group EBIT was lower than Atria’s domestic operating profit due to the company’s loss-making operations in the Baltic states and in Russia. However, the two divisions saw their operating losses fall year-on-year.
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By GlobalData
