Ingredients, grain, snack brand and stanol-based cholesterol-lowering Benecol brand owner Raisio had a healthy Q3 with revenues up 14% to €160m from €141.7m in Q3 2011.
EBIT came in at €10.7m, or 6.6% of total sales across the group.
For the nine month period to the end of September, sales jumped 7.9% to €446.6m from €413.9m in Q1-Q3 in 2011.
“Raisio’s EBIT for the three first quarters is clearly stronger compared to last year’s figure despite the difficult consumer market conditions in Europe and poor performance of Finnish agribusiness,” said CEO, Matti Rihko.
”Brands Division’s EBIT for January-September was over 20 per cent higher than in the comparison period. The main reasons for this are good growth and profitability in our UK food operations and Benecol’s ability to steadily make good results. Profitability of the acquired companies is now better than at the time of acquisition.”
“The general situation in European consumer markets continues challenging, but Raisio is moving on according to plan.”
Rihko added: “Successful acquisitions and the integration of operations as part of the Brands Division have wide-ranging impacts. This autumn, we started with a Consumer brands unit, under which we collected different market areas for tight control and joint resourcing.”
“Effective and profitable operations in the UK are also reflected in the Northern European food operations, where we have taken actions to improve profitability and competitiveness by allocating resources within the entire Consumer brands unit to meet the size of markets.”