Europe's biggest pig processor, Danish Crown of Denmark, has posted strong interim annual financial results with revenue for the year of DKK21.8 billion (US$3.73 billion) and a net profit of DKK604.4 million.
The company notes that the results reflect good progress with its DC Future plan, started in May 2009. The plan is due to run for 18 months, and aims to make the company more competitive internationally and to achieve a DKK1.3 billion improvement in earnings.
Payroll costs will be cut by 10% through streamlining and cuts. In April this year, Danish Crown initiated negotiations with its employees on the cutting of 580 jobs.
A cost reduction equivalent to DKK0.30 per kilogram has already been achieved by the group's pork division.
Chief executive Kjeld Johannesen singled out excellent results from the processing companies within the DC group as helping to ensure that it is ahead of its plan for greater competitiveness.