14 February, 2007

Finland: Raisio posted a decrease of sales of its unit Feed & Malt

Raisio announced recently that the sales of its unit Feed & Malt fell to 46.7 mln Euro in 2006 from 47.2 mln a year ago, according to AFX News.

Raisio widened it pretax loss in the fourth quarter excluding one-off items to 5.6 mln Euro from a year-earlier loss of 1.7 mln, burdened by considerable write-downs on fixed assets, goodwill and investments.

Loss per share, excluding one-off items, came in at 0.03 Euro compared with 0.00 Euro a year ago on sales of 107.8 mln Euro against 112.9 mln of last year. A dividend of 0.03 Euro per share was proposed for the full year 2006.

The plant-based nutrition group said its divisional sales in the quarter experienced a drop as its Food unit recorded sales of 53.6 mln Euro against 55.8 mln a year ago.

The Margarines and Soy-Oat products unit's sales came in at 29.2 mln Euro for the quarter, down from 31.9 mln a year earlier and its Feed & Malt unit's sales fell to 46.7 mln Euro from 47.2 mln a year ago. Looking ahead, the nutrition group said it expects operating results for 2007 excluding one-off items to improve.

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