Nordic poultry group Scandi Standard has reported higher underlying profits for the second quarter of 2015, although the result was not enough to prevent lower half-year earnings.
Sales in Sweden benefited from good market demand and "strong performance" of new products. In Denmark sales were positively impacted by higher export volumes at firmer prices. But the Norwegian retail market for chicken products continued to be weak and declined by 4% year on year.
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The firm posted a profit of SEK45.7m (US$5.4m) compared with a loss in the same quarter last year of SEK48.2m
Operating income rose 97% to SEK72.8m. On an adjusted basis, for non-comparable items in the quarter, operating income was 1% higher at SEK77m.
Overall, sales for the firm in the second quarter rose 3% to SEK1.34bn.
For the six month period, Scandi Standard posted a profit of SEK87.3m compared with a loss of SEK18.9m. On an adjusted basis, income rose 56% to SEK90.6m.
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By GlobalDataOperating profit was up 31% to SEK140.4m but down 7% when adjusted to SEK144.6m.
Sales were flat at SEK2.65bn.
