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During the first nine months of 2011, Suominen's net sales grew while its operating profit declines.
December 2, 2011
By: Karen McIntyre
Editor
At the same time,sales margins improved during the third quarter but production volumes were lower than average. During the third quarter Suominen generated net sales of €43.1 million down slightly from €43.4 million. Operating loss grew to €1.9 million. Net sales for the nine-month period totalled €130.8 million (128.1) while operating loss was €2.5 million (2.2). The rise in raw material prices halted compared to the first six months of the year. Shorter review periods for some raw material clauses included in sales contracts were implemented. Production volumes were lower than average due to the summer season, which led to a negative result. Operating costs were down from the corresponding period in 2010. The result included €1 million in nonrecurring costs.
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