AAK said today (30 October) it had generated a “record” operating profit in the third quarter amid “strong” food ingredient volumes and better earnings from confectionery.

The Sweden-based business reported an operating income of SEK303m for the three months to the end of September, up 11% on the year.

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Operating profit from AAK’s food ingredients division was up 11% at SEK190m. Earnings from its chocolate and confectionery fats business rose 19% to SEK105m thanks to higher cocoa prices.

Net profit was up 18% at SEK201m, AAK said.

However, AAK’s revenue was down 1.7% at SEK4.21bn, with the company citing the impact of foreign exchange and lower raw material prices.

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