THE NETHERLANDS – Friesland Foods saw its operating profit rise by 3% in 2004.

The co-operative has said that the steady results were helped in Europe by better cost controls and lower pension payouts. However, a price war in Dutch supermarkets stopped profit from climbing further.

Outside Europe, Friesland said that grew by volume, but results were held back by poor foreign exchange effects, high raw material prices and reduced export subsidies.

Overall in 2004, Friesland’s net turnover decreased 3% on 2003 to