Sardus' full-year results

Strong second half produced good increase in earnings Sardus, one of the Nordic Region's leading producers of sandwich toppings, reports an increase in earnings of 12 percent before tax, to SEK 84 M, in 2001. Following a sluggish first six months, earnings improved during the second half of the year. Sales rose by 17 percent, to SEK 1,377 M. Sardus' operating profit for the full year before amortization of goodwill increased by 10 percent, to SEK 136 M.

"I am generally pleased with the results," says President Ragnar Bringert. "The winter and spring were dismal, with sharp changes in prices in the wake of the alarm caused by BSE and the mad cow disease, But the second half was fine, in particular the fourth quarter when profit before tax increased by a full 63 percent, to SEK 30 M." During the fourth quarter Sardus acquired Falbygdens Ost, one of Sweden 's largest cheese processors, with annual sales of approximately SEK 300 M and good profitability. Falbygdens Ost was consolidated effective in the fourth quarter and contributed to the growth in both sales and earnings. "This was a strategically important acquisition," Ragnar Bringert continues. "It gives us a new platform and synergies for growth in a closely related field at the same time that it reduces our vulnerability to meat raw material prices. The trend in 2001 shows that Sardus' strategies are successful and are giving the Group steady and profitable growth even during years with substantial price changes." Helsingborg, January 31, 2002 AB SARDUS (publ) Ragnar Bringert President For additional information, please call President Ragnar Bringert. Telephone: 070-593 62 73 or 042-37 02 50.