Apetit PLC: updates its profit guidance

Helsinki / FI. (apg) Finland’s Apetit Group updates its profit guidance for 2022 to correspond the current continuing operations. The updated profit guidance: The full-year operating profit from continuing operations is expected to decrease year-on-year (EUR 5.8 million in 2021).

The previous profit guidance published on 17 February 2022: The full-year operating profit from continuing operations is expected to improve year-on-year (EUR 2.8 million in 2021).

Apetit’s continuing operations are Food Solutions and Oilseed Products. In the company’s previous profit guidance published on 17 February 2022 Grain Trade was included in the continuing operations, but from the Business Review Q1/2022 onwards Grain Trade will be reported as a discontinued operation.

The transactions of Grain Trade’s Estonian company has been completed on 10 March 2022 and the Lithuanian company on 31 March 2022. It was also decided to close the Latvian company and the business has been shut down.

On 23 March 2022, Apetit has agreed to sell its Grain Trade business, including Finnish grain trade business as well as its grain stocks and port operations in Finland, to Berner Ltd. The sale is expected to be completed during Q2/2022.

bakenet:eu
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