Finnish meat processor Atria has reported improved financial results in the first half of 2012 on the back of a new strategy.
Atria posted EBIT of EUR5.8m (US$7.1m) for the first half of the year, compared to an operating loss of EUR5.2m a year ago.
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It made a pre-tax loss of EUR200,000 but that compared to a loss of EUR10.9m a year earlier.
Atria said it “revamped” its strategy to focus on cold cuts, as well as productivity improvements.
It plans to invest in a plant in the Swedish city of Malmö, which will lead to the closure of a site in Halmstad.
Meanwhile, efficiency measures meant EBIT from its Finnish business more than quadrupled while operating losses in Russia more than halved.
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By GlobalDataAtria did not generate a huge amount of top-line growth. In total, Atria’s net sales increased only 0.7% to EUR641.8m.
