Kronfågel writes red figures
Swedisch poultry processor Kronfågel, also owner of Danish processor Danpo, has shown a loss over the first six months of 2006.
Turnover decreased from €144.5 million to €118.5 million and operational profit, which was already negative in 2005, slumped to €14.5 million.
The company suffered from negative sentiments due to the bird flu scare and the Mohammed cartoon case, which stalled poultry buyers in Islamic countries.
Another negative factor was fierce competition from processors in Southern Europe.
KronfÃ¥gel Holding is Scandinavia’s largest chicken producer, and market leader in Denmark and Sweden.
The holding employs around 1,750 people and is for 91% owned by Svenska Lantmännen (Swedish Farmers Supply and Crop Marketing Association) and for the remaining 9% by Lantbrukarnas Ekonomi-Aktiebolag (the Swedish Farmer Association).
