July 27, 2012

Finland's meat processor, Atria, has announced positive financial results in the January-June period of 2012.

Atria posted EBIT of US$7.1 million for the first half of the year, compared to an operating loss of EUR5.2 million (US$6.4 million) a year ago.

It made a pre-tax loss of EUR200,000 (US$245,100) but that compared to a loss of EUR10.9 million (US$13.4 million) a year earlier.

Atria said it "revamped" its strategy to focus on cold cuts, as well as productivity improvements.

It plans to invest in a plant in the Swedish city of Malmö, which will lead to the closure of a site in Halmstad.

Meanwhile, efficiency measures meant EBIT from its Finnish business more than quadrupled while operating losses in Russia more than halved.

Atria did not generate a huge amount of top-line growth. In total, Atria's net sales increased only 0.7% to EUR641.8 million (US$786.4 million).