The Group achieved strong organic growth and improved margins overall in 2017. Excluding newly acquired Manor Farm, net sales for the full year increased by 9 percent, and by 9 percent pro forma compared to the full year 2016.
Operations in Sweden and Denmark showed an increase in net sales of 7 and 8 percent respectively, while net sales in Norway rose by 3 percent and in Finland by 90 percent. Manor Farm achieved growth of 8 percent pro forma. Adjusted operating income for the Group for the full year 2017 improved by 20 percent excluding Manor Farm and by 18 percent pro forma.
The Group’s net sales in the fourth quarter amounted to MSEK 2,060.6, an increase of 8 percent excluding Manor Farm and by 7 percent pro forma compared to the corresponding quarter last year. Sweden and Denmark achieved growth of 5 and 22 percent respectively, while net sales in Norway declined by 7 percent. Net sales in Finland increased by 29 percent and was in line with the average for the first three quarters 2017.
Please, see the interim report, fourth quarter 2017.
Leif Bergvall Hansen,
CEO Scandi Standard