Raisio’s Profits Helped by Bringing Benecol Back

15 Feb 2016 --- Finnish cereal product and animal feed maker Raisio has reported a 60 percent increase in full year profits to €63.6 million, as it reaped the rewards of taking back the licensing rights of Benecol in key European markets.

Sales were up 5.5 percent to €521millon over the year while EBITA (earnings before interest, tax and amortization), was up from €39.8 million to €63.6 million in what Raisio said had been a positive year.

The company said it expected profits to improve in 2016, despite difficult trading conditions.

In 2014, Raisio took back the licensing rights for cholesterol lowering Benecol in the UK, Ireland and Belgium from Johnson & Johnson subsidiaries Cilag and McNeil in an €88.4 million deal.

Raisio chief executive Matti Rihko said: The largest market for Benecol products is the UK, where Raisio increased its marketing efforts according to plan, as a result, Benecol product sales turned into organic growth. The growth is expected to continue this year.”

Raisio licenses the Benecol brand and sells the ingredient stanol ester to food companies around the world.

The brand is licensed to more than countries by local food companies.