The maker of Benecol, Finland's Raisio Group, has said that it is revising its full-year outlook due to the 'prolonged production and commercial challenges of the UK confectionery business, lower than estimated profitability and the weakening of the pound against the euro'.
The group said that it anticipates its comparable EBIT for the full year to stand at around €45 million, adding that efforts to 'solve the production and commercial challenges' are now underway.
Lower EBIT
In February, Raisio said that its comparable EBIT for 2017 would 'remain slightly lower' than that of 2016. Raisio’s comparable EBIT for the financial year 2016 totalled EUR 50.7 million.
'Raisio continues to invest in brands, product concepts, sales and marketing, and to enhance its operations as well as expand into new markets in Europe', according to a statement by the company. 'This will create a basis for growth and success in the coming years.'
The company will publish its half year report for the period January-June on 9 August.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.
