Orkla’s portfolio companies report profit improvement
Orkla’s consolidated portfolio companies increased operating profit EBIT (adj.) for the fourth quarter by 17% to NOK 1.6 billion.The improvement is due to cost reduction measures, positive currency translation effects, price increases and structural growth. The contribution from associates to Orkla’s profit rose in the fourth quarter by 153% to NOK 372 million. This was mainly the contribution from Jotun, in which Orkla has an ownership interest of 42.7%. Jotun’s profit was driven by price and volume growth, increased gross margin and good cost control. Orkla’s turnover increased in