Ingredients sales drive AAK profits20 July 2012
Swedish food firm AarhusKarlshamn (AAK) has posted a solid second quarter as ingredients volume growth contributed to an 11% increase in profits.
AAK, whose interests encompass bakery, dairy, infant nutrition, food services, confectionary and animal feeds, increased operating profits to €25.7 million off-the-back of an 8% rise in sales to €493.8 million.
AAK’s standout performer was ingredients which posted a 30% increase in operating profits and a 21% volume boost. Ingredients offset losses in confectionary and animal feeds which dipped 7% and 29% respectively.
“The impact on our industry from the more difficult general economy in Europe is difficult to predict,” said Arne Frank, AAK’s chief executive.
“However, based on AAK’s customer value propositions for health and reduced costs, our customer product co-development and solutions approach, and the AAK Acceleration programme, we continue to remain prudently optimistic for the future, mainly driven by a very strong Food Ingredients business,” says CEO and President Arne Frank.
AAK is also aiming to capitalise on growth international markets such as Brazil and China and increased its sales in both territories in the quarter.
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