Finland-based food group Raisio today (2 November) posted a fall in third-quarter profits despite the company’s sales rising almost 25%.
The Benecol owner booked net income of EUR4.9m (US$6.9m) for the three months to the end of September, down from EUR6.6m a year earlier.
Net sales climbed EUR118.9m – a rise of 24.5% – but depreciation and impairment costs rose, as did interest expenses.
Raisio said the “main driver” of its sales growth was the contribution of Glisten, the UK snacks business the company bought this spring.
Sales from its brands division – which includes Benecol and Glisten brands like Dormen nuts – grew 45% to EUR63m. Sales from Raisio’s business-to-business arm, which comprises business like feeds and malt, were up 3.9% at EUR56.3m.
Click here for the full earnings statement from Raisio.
