HK Scan Sees Drop in Sales
FINLAND - Finnish meat processor HK Scan saw net sales drop to €985.9 million in the second quarter of the year down from €1,033.6 million in the same period last year.
27 August 2010
2 minute read
The lower net sales have been put down to lower sales volume caused in turn mainly by the labour market disputes in Finland and the cattle shortage in Sweden.
However, the company said that HKScan is advancing internationally, with half-year earnings burdened by challenges in market area of Finland.
The company said that profitability of the Group continued to develop in Sweden and the Baltics and especially in Poland.
However, in Finland, the industrial action in April/May had a considerable impact on earnings in the early part of the year.
Group EBIT for the entire first half of the year fell short of 2009 and stood at €13.6 million compared to €22.5 million in the same period in 2009.
The company has reaffirmed its earnings guidance given in the first quarter interim report. Full-year EBIT exclusive of non-recurring items is estimated to fall somewhat short of the level seen in 2009.
