Finland-based food and ingredients group Raisio has seen third-quarter earnings fall due to costs linked to the revamp of the business.
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Raisio, which owns the Benecol and Nordic brands, posted operating profit of EUR3m (US$4.3m) for the three months to the end of September. That result compared to EUR3.3m a year earlier.
The company, which also makes functional ingredients for the food industry, has decided to realign its operations and manage its brands separately from its business-to-business division.
Raision warned that losses from its food division will persist, although the company expects to see some improvement.
Looking at the business as a whole, Raisio expects to be “clearly profitable” by the end of the year.
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By GlobalData
