|Real-time Estimate - 11/26 10:20:00 am|
Orkla : Broad-based growth for Orkla
|10/29/2020 | 01:00am|
33.7%. Adjusted earnings per share increased by 23.7% to
The Branded Consumer Goods business, including Headquarters, posted a 15.2%
improvement in operating profit. All five business areas had growth compared
with the third quarter of 2019: Orkla Consumer Investments (+ 47%),
(+ 16%), Orkla Confectionery & Snacks (+ 13%),
Food Ingredients (+ 4%).
Turnover growth for Branded Consumer Goods was 10.6%.
growth of 3.8% compared with the third quarter of 2019, whereas in the previous
quarter there was a year-over-year organic decline of 3.8%.
"I am very pleased with
quarter of 2019, consumers travelled less and spent more time at home, which
contributed to good growth for our brands in the grocery channel. Four out of
five business areas showed organic growth. The big change from the second
quarter of 2020 was that Orkla Food Ingredients and the rest of our Out of Home
segment saw a noticeably smaller decline in sales, due to the easing of
coronavirus restrictions," says
"Our priorities during the ongoing crisis are to safeguard the health of our
employees, prevent the spread of infection and secure deliveries. We are also
executing on our strategy of strengthening our footprint in key home markets. In
the third quarter, we entered into an agreement to buy 67.8% of the shares in
the Indian company Eastern Condiments. This acquisition will help to double
consumers. Eastern has close to 3,000 employees and seven factories in four
different states in
Indian competition authorities in the fourth quarter of 2020.
there was underlying sales growth in the Decorative Paints and Marine Coatings
segments. In addition, raw material costs were somewhat lower.
by lower power prices.
Group Director Corporate Communications and Corporate Affairs
SVP Investor Relations
An Excel spreadsheet with key figures may be found
This information is subject to the disclosure requirements pursuant to Section 5
-12 the Norwegian Securities Trading Act
Click here for more information
© Oslo Bors ASA, source