Food Industry News

Finnish HKScan observes decline in turnover in the Baltic States

Turnover owns brand Rīgas Miesnieks Finnish concern HKScan meat processing in the Baltic countries in the first nine months of this year compared with last year fell by 7,2 percent to 120,9 million euros.

In the third quarter, turnover fell from 44,8 2015 million euros in the year to 41,4 million euros, DELFI referring to the company.

Comprehensive profit before tax for the nine months grew from last year 4,4 5,3 million to million euros in the third quarter - from last year 1,9 million euros to 3,3 million euros.

"Although the net turnover of the enterprise in the Baltic states declined, the growth of commercial revenue indicates that this year we were able to operate much more efficiently. The growth of commercial profits contributed to the restructuring of business, better cost management and higher prices for pork in the third quarter, "- said the chairman of the Board of HKScan Baltikum Teet Soorm transfers BNS in the press release.

"The main reason for the decline of net turnover is the sale of the business on the implementation of eggs in Tallegg company, which has helped us to focus on its core business - the development of pig and poultry for meat processing," - he added.

In connection with the increase in pork prices rose and consumer demand for processed meat products. At the same time, the overall level of prices in the Baltic market in comparison with the previous year remained low, the company noted.

Prices and sales volumes of the third quarter lagged behind last year's figures, but it is less able to compensate for the high cost of raw materials and production, for the same reason im- proved EBIT.

In these conditions, the company estimated the commercial activity in the Baltic region as good. The expansion of the trademark of the Rakvere Meat Processing Plant to the Latvian market gave positive results, a good response from the products under the brand Rigas Miesnieks.

Total revenue for the first nine months, the group has fallen from last year 1,42 billion euros to 1,39 billion euros and EBIT - with 10,2 5,5 million to million.

See also ... 31/01/2013 The most bought brands in Latvia: meat, bread and Karums 22/01/2014 Rubeņi will stop production due to EU requirements 26/06/2013 Latvian Forevers do not agree that there was horse meat in its products 11/10 Latvian meat processing plant Ardeks declared bankrupt 2016/06 Ķekava revives a chain of butcher shops03 / 2013/05 Kekava has developed a new line of pickled meat 03/2013/17 Forevers will build a new factory in Riga 04/2013/87 Danes bought Jekabpils meat processing plant 14/05/2014 Latvian smoked meats want to save the status of national product 20/04/2015 Estonian meat processing plant Rey sank to a minimum

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