Profit growth for Orkla’s portfolio companies
Orkla’s operating revenues increased by 14% in the third quarter to NOK 16.8 billion. The improvement is primarily due to price increases and positive currency translation effects. Eight out of 12 portfolio companies had underlying profit growth.Orkla’s consolidated portfolio companies increased operating profit EBIT (adj.) by 16% to NOK 1.8 billion in the third quarter. The profit contribution from associates amounted to NOK 509 million, an improvement of 114%. Jotun (42.7% interest) was the main contributor to this improvement. Jotun’s profit was driven by volume growth, higher gross