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The company recorded a pre-tax loss of NOK 9 million, a sharp deterioration from the same four-month period last year, when the result was NOK 72 million. Operating profit has been reduced by NOK 36 million if you do not include the costs of the conversion program in which the company is located.
"We have made good progress with an improvement program that will improve profitability over three years, resulting in high single costs in the short term, while at the same time we know that the measures have a positive effect," says CEO. Arne Kristian Kolberg.
– Vulnerable to events
One of the measures launched under the program a few years ago is to reduce the number of employees. The goal is a gain of about 700 million NOK.
Kolberg states that the summer drought has contributed to a somewhat larger slaughter of livestock and at the same time weakened the sale of barbecue food during the last half of the barbecue season due restrictions on the barbecue. However, the increased activity in the subsidiaries meant that the Group's sales nevertheless ended up in the second largest service sector of last year.
"As we have small margins, we become vulnerable to events beyond our control, such as the summer drought," says Kolberg.
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