July 13, 2010

Danish Lantmannen Danpo post negative profits in 2009

Denmark's Lantmännen Danpo has presented negative year-end results for 2009 following a tough competition on the market.

Lantmännen Danpo had a DKK29.7 million (EUR3.98 million; US$5.03 million) EBIT loss, down from a DKK 29.6 million profit in 2008, and gross result fell from a DKK15.3 million (US$2.58 million) profit to a DKK43.1 million (US$7.26 million) loss.

On the other hand, the turnover improved from DKK1.25 billion (US$0.21 billion) to DKK1.27 billion (US$0.213 billion). The company made large investments in 2008 and in early 2009, but the return will be reached later than expected, hopefully this year. At the same time the prices dropped and currency effects had a negative impact on the revenues.

Danpo is owned by Swedish Lantmännen and also a major Denmark poultry meat producer with the likes of Rose Poultry.