Raisio has reported an increase in third quarter profits

Raisio has reported an increase in third quarter profits

Raisio's third-quarter profits have been lifted on the back of the improved performance of its Benecol business.

For the third quarter to September, EBIT rose to EUR16m (US$17.4m) versus EUR9.4m.

Sales increased 5.9% to EUR134.5m.

Raisio said Benecol UK, Ireland and Belgium which it acquired at the end of 2014 helped improve EBIT while confectionery "continued its steady performance".

"Particularly good sales growth was seen in healthy, natural snack bars and nibbles," said CEO Matti Rihko.

For the period earnings per share grew from 0.05cents to 0.08cents.

Over the nine months. EBIT rose from EUR14.1m to EUR36.7m.

Net sales grew 6% to EUR398.5m

Earnings per share rose from 0.07cents to 0.18cents.

Raisio expects its EBIT to return on its long-term upward trend. Raisio estimates its net sales of 2015 to increase from last year and EBIT margin, excluding one-off items, to be significantly higher than the 7% realised in 2014.