HELSINKI, May 6 (Xinhua) -- Scan, a Finnish manufacturer of meat foods and products, reported improved first quarter (Q1) results on Thursday.
In a press release, HKScan, which is based in Turku, the oldest city in Finland, said year-on-year the company's earnings before interest and taxes (EBIT) improved by 2.8 million euros (3.37 million U.S. dollars) to minus 1.1 million euros. The company's net sales totaled 427.5 million euros compared to 428.9 million euros in Q1 2020.
Clear sales growth of the branded products continued in company's retail channel. Food service sales decreased significantly due to the COVID-19 pandemic, but the fall started to level off at the end of Q1, it noted.
Tero Hemmila, chief executive officer (CEO) of HKScan, underlined in the press release that the company had already improved its comparable business results for ten consecutive quarters year-on-year.
HKScan said earlier this year that "the Chinese market balances the domestic demand and supply changes." In 2019, HKScan exported six million kilograms of meat to China. (1 euro = 1.21 U.S. dollars)