Benecol Owner Raisio Group Posts Sales Decline In FY 2016
Raisio Group, which owns the Benecol brand among others, has posted net sales for 2016 of €436.3 million, compared to €521.2 million a year earlier.
Comparable EBIT at the group was €50.7 million, compared to €51.7 million a year earlier.
The Finland-based group said that its EBIT performance was 'a good performance in a situation where the exchange rate changes of the British pound had a negative impact of almost €3 million on our EBIT and some €20 million on net sales'.
Its Benecol business saw market share grow in the UK, 'which is by far the largest market for Benecol products'. Its Elovena brand 'continued to show good growth in Finland'.
Chief executive Jarmo Puputti said, “I would like to thank Raisio’s employees for their dedication and work well done. The first few weeks as Raisio’s CEO have clearly shown me the key resources that affect Raisio's success: professional and determined personnel, active partnerships with the customers, consumer- and customer-oriented approach and healthy products supporting sustainable development."
In January, former Raisio chief executive Matti Rihko announced his departure from the group.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine