Benecol and Sugar Puffs owner Raisio has booked an increase in first-quarter earnings, boosted by increased sales in its branded division and improved profits in western Europe.
For the three months to the end of March, Raisio’s net profit totalled EUR4.7m (US$6.1m) compared to EUR1.3m last year, which included one-off items. Excluding the one-off items, Raisio’s net profit in last year’s first quarter would have been EUR4.7m.
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EBITDA increased 8% to reach EUR10.8m (US$14m). EBIT amounted to EUR6.6m, an 8.1% improvement on the prior-year period.
Net sales, meanwhile, amounted to EUR135m, an 11% increase on last year.
“Raisio showed continued growth as expected in the first quarter of 2012,” the company said. “In the brands division, our determined work led to clearly improved profitability and increased net sales.”
Raisio said the most “significant” improvement in profitability was seen in its food operations in western Europe, or in the companies that have become part of Raisio through acquisition.
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By GlobalDataBenecol’s profitability, the company said, remained at its “ordinary good level”.
“Good performance of the brands division shows that we have chosen the right path. In challenging market conditions and rapidly changing markets, we have been able to improve our results and to develop our operations as the forerunner of the sector,” the company said.
