Lackluster profitability reported by Scandi Standard
CEO of Swedish-based poultry company Scandi Standard describes the group’s profitability as “unsatisfactory” over the last quarter, despite some positive developments in sales over the period.
For the April-June period, net sales generated by Scandi Standard increased 7% to 2.564 billion krona (SEK; US$298.1 million), according to the latest quarterly report of financial results recently published.
Despite this development, Earnings Before Interest and Taxes (EBIT) tumbled 28% to SEK75 million. As a result, the operating margin…