Positive underlying development in Norway, but weaker sales for Rieber & Søn

Rieber & Søn reported lower sales and profits at today’s presentation of the interim results.

Sales were 8.8% down at NOK 984 million, with operating profits of NOK 7 million.

- The underlying positive trend in Norway is continuing in our main categories, says CEO Frank Mohn.

As expected, the second quarter was affected by this year’s early Easter.

- After a good first quarter due to the Easter period, sales in the second quarter were down on last year, and this has affected performance, says Mohn.

In the second half of 2012 Rieber & Søn will be carrying out an aggressive programme of product launches, bigger than for many years.

- The third quarter will be especially lively. While aiming to develop in our established categories, we will be placing a strong emphasis on new concepts and forms of conservation, says Mohn.

Key Figures – Second Quarter 2012 (2011):

Sales : NOK 984m (1 079m)

Operating profit : NOK 7m (27m)

EBIT margin : 0.7% (2.5%)

ROCE : 1.1% (4.1%)