Norwegian dairy group Synnøve Finden has seen full-year earnings surge thanks to growing demand and improved productivity.

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Earnings before interest tax and amortization (EBITDA) rose to NOK63.5m (US$9m), up 295% on 2007. Fourth-quarter EBITDA increased 24% to NOK20.1m, the company added.


Finden MD Thorbjørn Graaruds said that the strength of the group’s brands, growing demand in Norway and improved productivity drove the company’s “good results”.


New product development and innovation fuelled sales growth and the company achieved revenue gains across all of its businesses. Full-year revenue increased to NOK861.4m, after sales lifted NOK20.3m in the fourth quarter to NOK219.5m.


Looking forward, Graaruds said “good profitability and a strong balance sheet” would provide the company with a solid foundation for the coming year.

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