AAK operating profit rises 15%
May 4, 2011
by Jeff Gelski
MALMO, SWEDEN — Operating profit at AAK increased 15% to 204 million Swedish krona ($33.5 million) in the first quarter. The company had first-quarter net sales of 3,843 million Swedish krona ($630.7 million) mainly due to increased raw material prices, which were offset partly by a negative currency translation impact of 253 million Swedish krona.
Volumes decreased by 4% because of lower commodity volumes. The business area of Chocolate & Confectionery Fats showed volume growth and stable margins.