Profit Warning From HKScan
HKScan Corporation, the leading Nordic food company, is projecting an operating loss for 2017. HKScan had previously estimated that its comparable operating profit (EBIT) for 2017 would stay below the previous year’s level of €13.2 million.
The reasons for the revised outlook is the higher than anticipated ramp up cost of the group’s new poulty unit at Rauma and also the temporary decreased delivery capability in poultry in Finland. The Rauma unit will improve the efficiency and the competitiveness of the HKScan’s poultry production and enable it to introduce new food concepts in 2018.
HKScan supplies high-quality, responsibly-produced pork, beef, poultry and lamb products, processed meats and convenience foods under strong brand names. Its customers are the retail, food service, industrial and export sectors, and its home markets comprise Finland, Sweden, Denmark and the Baltics.HKScab exports to close to 50 countries. In 2016, HKScan generated net sales of nearly €1.9 billion and employed 7,300 people.
