Weaker profit for Orkla
Orkla’s operating revenues rose by 15% to NOK 16,077 million in the fourth quarter. Operating profit EBIT (adj.) increased by 2% to NOK 1,903 million, due to marked improvement for Hydro Power, but profit was weaker for the Branded Consumer Goods business. The group’s profit before tax amounted to NOK 1,702 million, which was a decline of 8%.Orkla’s Branded Consumer Goods business achieved 13% growth in fourth-quarter operating revenues. Organic turnover grew by 10%. Growth was driven by price increases to compensate for steep increases in energy, raw material, packaging and freight costs.