Danish Crown reports best result in five years
Leading pork slaughtering group, Danish Crown, has reported the healthy earnings this year by focussing on its core business.
Operating profit from ordinary activity, has increased this financial year (2006-2007) from DKK,765.4m (€236.8m) in 2005-2006 to DKK 1,903.3m (€255.3m). CEO, Kjeld Johannesen, commented that “after a phase of consolidation on our core business, we have a clear strategic goal now, which will pave the way for a firm line in the future”.
Slaughterhouse fires
In spite of the positive profit situation, company turnover has declined by 8.6% to €5.9b. Chairman of the supervisory board, Niels Mikkelsen, attributed the fall to divestures of non-core businesses and to the two slaughterhouse fires in Blans and Skive earlier this year, which “created much difficulty for us and our suppliers”.
The above led to the forced slaughtering of 115,000 fattening pigs and 10,000 sows in German slaughter barns.
Acquisition projects have commenced in the UK (Geo. Adams & Sons) and Sweden (KLS/Ugglarps) during the course of the last financial year, thus strengthening the company’s position.
“Our ongoing acquisitions reflect our need to secure our competitive position on several markets”, said Mikkelsen.
Related website:
• Danish Crown
