Food ingredients maker AAK has reported a jump in half-year profits after higher raw material prices drove a rise in sales.
The Sweden-based company said yesterday (20 July) that its net profit for the first six months of the year was up 19% at SEK265m (US$41.2m). Operating profit climbed 17% to SEK400m.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
AAK’s net sales increased by 9% to SEK7.75bn despite a 6% fall in volumes. The company pointed to “increased raw material prices and a better product mix”, although it added that currency fluctuation hit its top line to the tune of SEK640m.
Commodity volumes for AAK’s food ingredients business continued to decline in the second quarter. However, the company said volumes of speciality ingredients increased in the division – and in chocolate, confectionery fats, technical products and feed.
