AAK hits record high after Q1 boosted by volume growth
25/04/2024 09:59
** Shares in AAK AAK.ST jump as much as 9%, hitting a
record high, after the Swedish food processing company reported
Q1 operating profit beat as volumes returned to growth
** Q1 operating profit grew by 32% quarter-on-quarter to SEK
1,254 million ($115.50 million) beating the average estimate of
1,070 million in an Infront consensus
** It said its volumes in the quarter increased by 3% to
556,000 MT, driven by Chocolate & Confectionery Fats and Food
Ingredients business area
** The stock is among top performers on the pan-European
STOXX 600 index .STOXX
** It is up around 4% by 0855 GMT, having hit an
all-time high of SEK 271.6 earlier in the session
($1 = 10.8570 Swedish crowns)
(Reporting by Marta Frąckowiak)
((marta.frackowiak@thomsonreuters.com))