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HK Foods reports 55% profit rise as oil prices and pork market pressures mount
Finnish food producer HK Foods posted a 55% jump in quarterly profit, rising to €3.1 million, while revenue grew 5.3% to €258.7 million. Comparable operating profit increased 19.3% to €7.7 million and the operating margin improved from 3% to 5.6%.
The company attributed growth to stronger sales of poultry products, ready‑meal components and beef, but warned that higher oil prices, rising logistics and packaging costs, higher labour expenses and a tight beef market are weighing on margins. CEO Juha Ruohola said the efficiency programme boosted production efficiency. He also noted that weak Asian demand, an EU pork oversupply and an African swine‑fever outbreak in southeast Finland have halted pork‑product exports to China and Japan, with cost impacts expected to grow in the second half of the year.
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- [● 2 SOURCES] CEO Juha Ruohola said the efficiency programme increased production efficiency and profitability in the first half.
- [● 2 SOURCES] HK Foods' revenue grew 5.3% to €258.7 million in the quarter. www.pollumajandus.ee
- [○ 1 SOURCE] Operating margin improved from 3% to 5.6%, a 2.6‑percentage‑point rise. www.pollumajandus.ee
- [● 2 SOURCES] Comparable operating profit rose 19.3% to €7.7 million. www.pollumajandus.ee
- [● 2 SOURCES] Growth was driven by poultry products, ready‑meal components and beef sales.
- [● 2 SOURCES] Higher oil prices increased logistics and packaging costs, with impacts expected to grow in the second half of the year.
- [○ 1 SOURCE] HK Foods' quarterly profit increased by 55% to €3.1 million. www.pollumajandus.ee
- [● 2 SOURCES] African swine fever in southeast Finland halted pork and pork‑product exports to China and Japan.