Orkla shares rise on Q1 profit beat

Orkla ASA

03/05/2024 12:53

** Food processing group Orkla's  ORK.OL  shares up 5.5%
    ** Company posts Q1 adj EBIT of 1.76 bln Norwegian crowns
($161.4 mln), ahead of consensus provided by brokerage Kepler
Cheuvreux via Swedbank Aktiellt
    ** Improvement driven by price and volume growth,
cost-savings and positive currency translation effects - Kepler
Cheuvreux
    ** "Productivity is gradually improving, and the outlook is
unchanged," Orkla says
    ** Stock among biggest gainers on STOXX 600  .STOXX 
    
 ($1 = 10.92 Norwegian crowns)

 (Reporting by Anna Chaberska)
 ((anna.chaberska@thomsonreuters.com))