AAK heads for best day in over a decade after record-high operating profits

AAK AB (publ)

14/04/2023 09:29

** AAK  AAK.ST  shares jump 10% and head for their best day
in almost 15 years after the Swedish food processing company
posted record-high Q1 profit
    ** The company's operating profit rises 43% y/y in Q1 to
"record-high" 952 million Swedish crowns ($92.88 million),
driven by strong operating profit per kilogram in food
ingredients and chocolate and confectionery fats 
    ** Total Q1 volumes fall 6% y/y, which the company says is
largely due to expected effects of its Russia exit and
"optimization" program in bakery
    ** Including Friday's rise the stock has gained more than
14% year to date


($1 = 10.2497 Swedish crowns)

 (Reporting by Greta Rosen Fondahn)
 ((Greta.RosenFondahn@thomsonreuters.com))