Raisio Sales Flat in Q2, Maintains Outlook
There was good profitability for the Brands Division, EBIT 12.8% (10.3%) of net sales. Raisioagro’s EBIT remains weak due to market conditions in feed protein business.
14 Aug 2012 --- Raisio plc has issued an interim report for Q2 (April-June 2012). Net sales totalled EUR 150.6 (Q2/2011: EUR 150.5 million). EBIT EUR 10.6 million (Q2/2011: EUR 10.2 million) accounting for 7.1% (6.8%) of net sales. There was good profitability for the Brands Division, EBIT 12.8% (10.3%) of net sales. Raisioagro’s EBIT remains weak due to market conditions in feed protein business.
Chief Executive’s review: “Raisio’s second quarter went as expected. Brands Division’s net sales growth and profitability developed in accordance with the objective. In the UK, business performance has been enhanced to meet the level of major branded houses.”
“In the first half of 2012, Raisioagro’s new business model and extended product range were well received by customers. In June, we started sales of Neste Oil's liquid fuels. In addition to feeds, Raisio’s goal is to provide Finnish grain and livestock farms with sufficiently wide range of the most common farming supplies at competitive prices. We are looking for new solutions to the profitability problem in vegetable oil crushing.”
“Raisio continues implementing its growth phase. This can be seen in our activeness on the acquisition front and in closer integration of the acquired companies. Our growth also brings added value to owners. Our acquisitions have been successful and the acquired companies are now in better shape than they were at the time of acquisition.”
The company’s guidance remains unchanged. “Raisio continues the implementation of its growth strategy both organically and through acquisitions. We expect EBIT to further improve annually,” a statement read.
