Norwegian conglomerate Orkla saw profit growth from its FMCG unit Orkla Brands accelerate during the fourth quarter of 2010, the food-to-energy group announced today (10 February).
Orkla, which also has interests in the aluminium, materials and financial sectors, said EBITA from its Orkla Brands division rose 4.1% to NOK910m (US$156.1m) during the last three months of the year.
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The increase, driven mainly by the company’s Orkla Brands Nordic unit, which includes businesses from Lilleborg detergents to snack maker Chips Group, led to a 6.2% rise in full-year EBITA from the division to NOK2.97bn.
The company reported that fourth-quarter revenues from Orkla Brands increased 10.4% to NOK6.98bn. Over 2010 as a whole, revenues from Orkla Brands climbed 2.5% to NOK23.63bn.
Orkla’s group-wide fourth-quarter EBITA was up 13.9% to NOK1.32bn. Quarterly revenues for the conglomerate climbed 17.7% to NOK15.88bn.
Annual EBITA rose 30.2% to NOK3.94bn on the back of a 14.1% increase in revenues to NOK57.34bn.
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By GlobalDataHowever, Orkla’s group profit before tax stood at NOK20m in 2010, against NOK1.81bn in 2009, thanks to a tax charge of around NOK844m.
Orkla shares were down 1.8% at NOK51.90 at 16:56 CET
Click here for the full statement from Orkla.
