Brief: AAK Q1 Operating Profit Excl. Acquisition Costs Rises To SEK 546 Million

AAK AB (publ)

24/04/2020 10:20

April 24 (Reuters) - AAK AB (publ)  AAK.ST :
    * AAK'S INTERIM REPORT FOR THE FIRST QUARTER 2020 -
CONTINUED
PROFIT GROWTH IN A VOLATILE MARKET
    * AAK AB (PUBL) Q1 TOTAL VOLUMES FOR QUARTER DECREASED BY 1
PERCENT (POSITIVE 4), AMOUNTING TO 569,000 MT (572,000)
    * Q1 OPERATING PROFIT, EXCLUDING ACQUISITION COSTS OF SEK 4
MILLION (9), REACHED SEK 546 MILLION (509), A YEAR-OVER-YEAR
IMPROVEMENT BY 7 PERCENT
    * FOOD SUPPLY WILL REMAIN ESSENTIAL AND A TOP PRIORITY GOING
FORWARD
    * ALL OUR PRODUCTION PLANTS HAVE STRONG CONTINGENCY PLANS IN
PLACE
TO SECURE OPERATIONS AND INBOUND/OUTBOUND LOGISTICS SO THAT FOOD
MANUFACTURERS CAN MAINTAIN THEIR PRODUCTION
    * Q1 INCLUDING ACQUISITION COSTS, OPERATING PROFIT INCREASED
BY 8
PERCENT
    * OUR BUSINESS MODEL AND STRATEGIC DIRECTION STAND STRONG
DESPITE
INCREASED UNCERTAINTY.
    * FOODSERVICE, PART OF BUSINESS AREA FOOD INGREDIENTS, HAD
SIGNIFICANTLY LOWER SALES TO RESTAURANTS, HOTELS AND AIRLINE
CATERING DURING LATTER PART OF QUARTER.
    * WE ALSO HAD SEVERAL DISRUPTIONS IN INDIA AT END OF MARCH,
CONTINUING TO IMPACT OUR BUSINESS NEGATIVELY INTO Q2.
    * DESPITE BUSINESS CHALLENGES AT END OF QUARTER, CONSISTENT
TREND
OF PROFIT GROWTH CONTINUED.

Source text for Eikon:  ID:nWkr3x4Z6C 
Further company coverage:  AAK.ST 

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