HK Ruokatalo Group said today that it is expecting additional charges to hit its 2005 financial statement, as a result of closing down production at two site.
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The company said its international business met or even exceeded growth and productivity goals for 2005. However the food group warned that performance in Finland will remain clearly behind target, as earlier indicated in its interim reports.
A statement said: “We are preparing to recognise additional charges in the financial statements for 2005. These non-recurring items are attributable to writedowns of fixed assets in preparation of closing down production in Turku and Tampere, inasmuch as progress is made on the planned business structure reform, and to personnel and pension arrangements already referred to earlier. The planned charges are expected to erode the company’s profits by some EUR 4-5m.”
The company will release its financial statement bulletin for 2005 on 24 February 2006.
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