Icelandic food manufacturing company Bakkavör has revealed its results for the first quarter of 2008, with operating profit falling 37 per cent to €20.3m despite strong sales in continental Europe (up 9 per cent) and in Asia (up 28 per cent).
'The Q1 results are disappointing,' said CEO ágúst Gudmundsson. 'They are impacted by the constant tough trading conditions with further increases in raw material costs compounded by currency pressures.'
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