Lantmannen Unibake: new plant in Bedford hit profit

Stockholm / SE. (lg) Lantmannen Group´s profit for the third quarter 2011 remained stable. The company reported a profit of 446 million SEK after net financial items and adjusted for items affecting comparability; this can be compared with last year´s profit which stood at 431 million SEK. The Agriculture and Machinery Sectors are continuing to develop positively, while high commodity prices and lower demand are stalling the development in the Energy and Food Sectors.

«Our profit for the third quarter of 2011 shows that we have adopted the right strategy and that we are continuing to develop in the right direction», says Per Olof Nyman, Acting Group President and CEO of Lantmannen.

The Agriculture Sector developed strongly during the quarter, reporting an operating profit of 193 million SEK (155 million SEK). The Machinery Sector also showed a very positive development, with an operating profit for the quarter of 136 million SEK (78 million SEK).

The Food Sector reported an operating profit of 167 million SEK (219 million SEK) for the quarter. The fall in demand for consumer goods clearly hit the sector. The start-up costs of two major investments also had a negative effect on the profit: Lantmannen Kronfågel´s plant in Valla and Lantmannen Unibake´s plant in Bedford, England.