Finland-based food and ingredients group Raisio has seen third-quarter earnings fall due to costs linked to the revamp of the business.
Go deeper with GlobalData
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.
