Swedish conglomerate Lantmännen has booked a jump in underlying profits for the first nine months of 2008, buoyed by rising sales and earnings from its poultry business.
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The company, which has interests in food, agriculture and the energy sector, posted underlying net profit of SEK722m (US$92.9m), up from SEK453m a year earlier.
Net sales were up 24% to SEK32.2bn as Lantmännen Kronfågel, the company’s poultry business, enjoyed a “strong” rose in sales and a 380% leap in operating profit to SEK110m.
Lantmännen said its investments in food unit Lantmännen Cerealia and frozen bread production at its Lantmännen Unibake subsidiary enjoyed “continued success”.
“The progress Lantmännen has made this year demonstrates that we continue to work according to a clear policy of focusing operations on prioritised areas,” president and CEO Per Strömberg said.
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By GlobalData
