May 10, 2011

Finnish food group HKScan Group's net sales in the first quarter grew more than 22% to EUR592.7 million (US$851 million), mainly as a result of completed corporate acquisitions, with organic growth standing at approximately 4%. 

Group EBIT came in at EUR1.4 million (US$2 million).

The HKScan Group's market standing is strong and the company is a leading player in all its market areas. However, its performance was eroded by the poor profitability of the pork business in Finland and Sweden, according to the company's statement.

The group's efficiency programmes in Finland and Sweden as well as Rose Poultry's integration into the HKScan Group in Denmark progressed as planned, the statement said, adding that business in the Baltics and Poland was developed as planned.

The group's full-year EBIT is expected to improve compared with 2010, it added.