Lännen Tehtaat, the Finland-based food group has swung to a profit for the first quarter, boosted by sales in its grains, oilseeds and seafood businesses.
Profit for the period totalled EUR0.8m (US$1.1m) compared to a net loss of EUR0.3m in the prior year.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Consolidated net sales increased 16% to reach EUR74.8m, while operating profit amounted to EUR0.9m compared to a loss of EUR0.7m in the prior year period.
CEO Matti Karppinen said: “The year began significantly better than last year. Consolidated net sales were up year-on-year thanks to growth in the grains and oilseeds business and the seafood business. The operating profit also showed a year-on-year improvement, as expected.”
Karppinen added that market conditions continued to be “uncertain” due to the weak economic
circumstances.
“In the second quarter, the industrial action and the substantial price rises for salmon and rainbow trout are further challenges affecting our profit-earning capacity,” he added.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
