Danish Crown has said its ability to serve markets around the world helped the meat group in a fiscal first half that saw Russia ban imports from the EU and the PEDV virus hit US production.
The co-op reported a fall in sales and operating profit for the six months to the end of March. Revenue dropped 1% to DKK28.21bn (US$5.18bn) amid lower market prices for pork.
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Operating profit was down 11.2% at DKK864m, although Danish Crown pointed to costs linked to the closure of a facility in Faaborg in Denmark. However, without those charges, operating profit was still down 3.1%.
Net profit rose 14% thanks to lower interest charges and income from disposals.
“The world market has, for the past six months, been characterised by the Russian import ban on pork from the EU as well as the PEDV virus which has hit the US pig production hard. In such a difficult market, Danish Crown’s strength is its wide market access globally,” CEO Kjeld Johannesen said.
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