Norwegian meat processor Nortura registered an increase in sales and earnings during 2014.
The company said today (12 February) operating profit for the year rose to NOK450m (US$58.5m), up 37% year-on-year. Revenue in the period increased 8.1% to NOK22bn.
Sales expansion was in lower margin areas and price/mix proved a drag, the company said. Nortura stressed it was able to improve its operating result despite a decline in the gross margin, which fell 1.5%. The fall in gross margins was offset by a focus on cost, the company indicated. Operating margins rose 0.4 percentage points to 2%.