Finnish food group Raisio today (8 November) posted a sharp rise in EBIT for its third-quarter.
EBIT for the three months ended 30 September reached EUR10.7m, a steep rise from EUR6.3m in the same period the year before. EBITDA grew to EUR15.2m, up from EUR10.2m in 2010.
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The company also announced that net sales reached EUR141.7m (US$195.6m), up 27.6% on the same period last year. Sales were boosted by a strong performance in the UK and feed sales, the company said.
Raisio’s net sales for its Benecol spread business reached EUR11.4m, a slight drop from EUR11.8m last year. However, sales volumes of plant stanol ester, the ingredient in Benecol products, rose slightly from the same quarter last year.
Raisio chief executive Matti Rihko said the company expects to see sales growth for the fiscal year, especially for the brands division, but urged caution over high commodity prices.
“In terms of the group’s development, it remains essential to pay attention to the impact of raw material price volatility on net sales,” he added.
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By GlobalDataFor the nine months from 1 January to 30 September, net sales jumped 33% to EUR413.9m. EBIT reached EUR26.9m excluding one-off items, up from EUR16.6m. EBITDA grew to EUR39.4m, up from EUR27.7m the previous year.
