LÄNNEN TEHTAAT’S FIRST-QUARTER PROFIT EXPECTED TO FALL SHORT OF PREVIOUS YEAR’S LEVEL

In its financial statements bulletin of 16 February, Lännen Tehtaat gave an assessment of expected future developments, in which it stated that the accrual of profit in 2012 is expected to be weighted more strongly towards the end of the year than it was in 2011. It was stated that this was especially because in the first six months of 2011 the Grains and Oilseeds business had an exceptionally good profit.  

The Group’s first quarter 2012 operating profit, excluding non-recurring items, is expected to be short of the previous year’s level and is expected to be negative, as in the Grains and Oilseeds business the grain trade has been considerably quieter than previously forecasted and the vegetable oil refining margin has been down year on year.

In addition, in the financial statements bulletin it was stated that the Group’s full-year operating profit, excluding non-recurring items, is expected to be higher than the previous year. Since the profit forecast for the beginning of the year is lower than anticipated, this also generates uncertainty regarding realisation of the profit guidance for the full year.

Lännen Tehtaat will publish its Q1 (January-March) interim report on 4 May 2012 at 8.30 a.m.

LÄNNEN TEHTAAT PLC

Matti Karppinen
CEO

Further information:

Matti Karppinen, CEO, tel. +358 (0)10 402 00

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