November 26, 2007

Danish Crown profits, best in five years
 

Danish Crown, Europe's largest pork processing company, reported positive earnings this year due to its focus on core business.

Operating profit from ordinary activity increased from US$350 million in 2005-06 to US$378 million this year.

Kjeld Johannesen, CEO, said that after the company's consolidation of its core business, it has a clear strategic goal now --- which will pave the way for a firm line in the future.

In spite of the positive profit situation, the company turnover declined by 8.6 percent to US$8.7 billion.

Niels Mikkelsen, chairman of the supervisory board, attributed this to divestures of non-core businesses and to the two slaughterhouse fires in Blans and Skive earlier this year.

Danish Crown's recent acquisitions of Geo Adams & Sons and Sweden KLS/Ugglarps, however, strengthened the company's position.

Mikkelsen pointed that the ongoing acquisitions reflect Danish Crown's competitive positioning in several markets.