Edible oils boost Karlshamns profit

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Related tags: Marketing, United states dollar, Edible oils

Swedish ingredients company Karlshamns witnessed a profit
improvement in its Edible Oils business area for the interim period
from January 2001 to September 2001

Swedish ingredients company Karlshamns witnessed a profit improvement in its Edible Oils business area for the interim period from January 2001 to September 2001. The company reports this week that edible oils increased their sales volumes by 6 and 4 per cent respectively despite strained market conditions. The Group's operating profit increased by SEK 33 million (3.49million euros) over the same period last year, to SEK 150 million (15.88 million euros). Operating profit in the third quarter of 2001 totalled SEK 54 million (5.71million euros). The Edible Oils business area's operating profit increased to SEK 114 million (12.06 million euros). In the second and third quarters of 2000, operating profit in the Edible Oils business area was negatively affected by items affecting comparability and provisions for bad debts amounting to SEK 31 million (3.28 million euros). Exclusive of these items, operating profit improved by SEK 8 million(0.85 million euros) in the Edible Oils business area and by SEK 2 million (0.21 million euros) for the Group. Karlshamns​ notes in a statement that the European fatty acids market displayed a marginal increase in the first nine months of the year, as compared to the same period in 2000. Development in Europe differs from that in the US and Asia, where the market for fatty acids decreased by some 10 per cent due to the general business decline. The price level for fatty acids expressed in Euro has been stable, with prices adjusted upwards in the third quarter due to rising raw material prices. Glycerol prices fell steeply in the first quarter, but levelled off in the following months. Lower glycerol prices decreased contribution margins, despite the weak Swedish currency.

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