2009 OPERATING PROFIT, EXCLUDING NON-RECURRING ITEMS, UP ON PREVIOUS YEAR'S LEVEL
LÄNNEN TEHTAAT PLC STOCK EXCHANGE RELEASE 18 January 2010, 12;45 PM
2009 OPERATING PROFIT, EXCLUDING NON-RECURRING ITEMS, UP ON PREVIOUS YEAR'S
LEVEL
In its third-quarter interim report, Lännen Tehtaat stated that thanks to the
measures taken to develop the Group's different businesses, the fourth-quarter
operating profit, excluding non-recurring items, was expected to show a
year-on-year improvement, and the full-year operating profit, excluding
non-recurring items, was expected to be around the same level as in 2008.
Preliminary figures indicate that the fourth-quarter operating profit, excluding
non-recurring items, was significantly better than expected and also
significantly better than the previous year's final quarter figure, rising to
more than EUR 5 million (Q4/2008: EUR 2.8 million).
The improvement in the Group's businesses continued during the final quarter of
2009, strengthening towards the end of the year. The better than expected result
was attributable to the success of the Christmas season in the Seafood business
and the success of the Grains and Oilseeds business especially in trading
between third countries towards the end of the year. The share of the profit of
the associated company Sucros also exceeded expectations.
Thanks to the better than expected final quarter, the full-year operating profit
of the continuing operations, excluding non-recurring items, represented a
year-on-year improvement, deviating from the estimate presented in the interim
report. The continuing operations' operating profit for 2009, excluding
non-recurring items, is expected to be over EUR 7 million (2008: EUR 5.4
million).
The preliminary figures are unaudited and are not based on financial statements
approved by the Board of Directors. Lännen Tehtaat's financial statements
bulletin for the financial year 1 January - 31 December 2009 will be published
at 8.30 am on 17 February 2010.
LÄNNEN TEHTAAT PLC
Matti Karppinen
CEO
Further information: Matti Karppinen, CEO, tel. +358 10 402 4001
Copies to:
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www.lannen.fi
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