Shares in Raisio plunged more than 7% today (12 August) after the Finnish food group forecast a fall in EBIT in 2014.

Raisio said it expects EBIT this year to “remain below the level of 2013”. The Benecol owner generated EBIT of EUR39.3m (US$52.4m) last year.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The company had hinted in May it would be a “challenge” to hit is previous target of a rise in EBIT this year but this morning it confirmed it now believed its operating profit would fall year-on-year.

For the first half of 2014, Raisio, which also owns Honey Monster cereal and Fox’s confectionery, reported a drop in EBIT to EUR13.8m compared with EUR19m for the same period a year earlier. Its branded divison saw EBIT fall 28.8% to EUR14.6m.

Sales fell 10% to EUR249.1m.

For the second quarter of the year, sales dropped 10.9% to EUR132.5m. EBIT fell to EUR8.5m from EUR11m for the same period a year earlier.

GlobalData Strategic Intelligence

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

Shares in Raisio were down at EUR3.73 per share at 10:53 BST today.

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now