Finnish dairy group Valio has said that strong price levels and higher capacity helped it to achieve a 32% jump in pre-tax profit in 2001.
The processor said that the high price levels, especially in the first half of the year, allowed it to increase its milk price. It also processed 10% more milk in 2001 than in 2000.
Pre-tax profit for 2001 stood at e14.3 million, compared with e10.8 million in 2000. The company’s turnover was also up 10% in 2001 to e1.5 billion.
Sales for Valio increased in all areas except dairy fats, with total exports for 2001 up 4% on 2000.
Net turnover of Valio’s overseas subsidiaries grew by 20%, with highest growth seen in its Belgian, Swedish and Russian subsidiaries.
Looking ahead, Valio said that its prospects for 2002 were positive, but warned that fragile domestic and global economies could change its outlook.