Orkla today (30 October) reported an increase in nine-month sales and profits, with revenue and profitability improving from the Nordic FMCG group's two packaged food businesses.
The Toro meals owner booked net profit of NOK3.14bn (US$366.1m) for period to the end of September, up from NOK2.37bn a year earlier.
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EBIT grew 13.6% on an adjusted basis to NOK2.51bn. The number was adjusted due to historical figures being restated due to the group's Orkla Brands Russia, a discontinued operation.
Orkla said its operating revenue increased 10% to NOK23.63bn.
In recent years, the Norway-based group has sold off non-FMCG assets to focus on branded consumer goods. Orkla's branded consumer goods is now the bulk of the business. The company saw its operating revenue from the division rise 9.4% to NOK22.69bn. Adjusted EBIT grew 12.2% to NOK2.64bn.
Orkla Foods, the company's grocery business unit, saw adjusted EBIT increase 11.5% to NOK1.14bn. Operating revenues were up 6.4% at NOK9.43bn.
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By GlobalDataAt Orkla Confectionery and Snacks, adjusted EBIT was up 18.1% at NOK529m. Operating revenues grew 12.9% to NOK4bn.
