June 1, 2011

 

Nortura experiences losses from January to April

 

 

Norwegian meat and poultry cooperative, Nortura, recorded NOK64 million (US$11.84 million) in pre-tax losses from January to April 2011, an increase from NOK48 million (US$8.93 million) in losses during the same period of 2010.

 

Turnover reached NOK5.3 billion (US$986.4 million), up by NOK335 million (US$62.4 million) from the previous year. The company's gross profit margin however, is in decline due to a 7% dip in meat prices last year. Ebitda is down to NOK125 million (US$23.3 million), from NOK134 million (US$24.9 million) in the previous year, and operating losses totalled NOK40 million (US$7.44 million), up from NOK16 million (US$2.98 million). The sale of Nortura's Bergen plant generated a NOK137.5 million (US$25.6 million) sales profit.

 

Nortura brands Prior and Gilde have seen strong sales, according to CEO Runar Larsen.

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