Finnish food group Raisio today (20 December) increased its forecasted EBIT for its 2011 financial year on the back of profits from its UK operations.
In February, a week after its acquisition of UK firm Big Bear Group, Raisio said it expected EBIT to be 4-5% of net sales. The acquisition of Big Bear added brands including Sugar Puffs cereal and Fox’s confectionery to a UK business that already housed UK snack firm Glisten.
Go deeper with GlobalData
Today, Raisio, which also owns Benecol spreads, said EBIT in 2011 would be 5-6% of net sales, which it estimates to be between EUR550m (US$719.5m) and EUR560m.
Raisio said the adjustment is based on growth and good profitability from its UK acquisitions.
It added that it does not expect to implement other growth projects that would place a “significant burden” on EBIT for the year.
Raisio’s financial statements for 2011 will be published on 14 February.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
