Swedish meat processing group Sardus said that despite lower like-for-like sales in Q2 and Q3, and a change to its product mix, pretax profits rose by 38% to SKr72m compared with SKr53m in the year-ago period.
Sales to September rose by 29% to SKr864m, but the increase in turnover was entirely due to the acquisition of Danish meat group 3-stjernet A/S earlier this year.
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The company said it expects full-year pre-tax profits to reach SKr96m, compared with a full-year 1999 profit of SKr73m.
Private companies outperforming the giants
The healthy profits shown by Sardus also show that privately held Swedish meat groups continue to fair much better than the market giants Swedish Meats and Spira, which are both owned and controlled by Swedish farmers’ coops. Both Swedish Meats and Spira had earlier reported heavy losses for the first eight months of this year.
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