Food processing company Lännen Tehtaat (OMXH: LTE1S) is planning to rename the company to Apetit Oyj after its most famous brand. In 2012 the company which is best known for its frozen products had sales of 378 million. Its rather dull profit numbers have been pretty stable at a relatively low level and last year was more of the same. Operating profit came to be 8.8 million and net profit 6.7 million translating to earnings per share of 1.07. Furthermore the Board of Directors suggests a dividend of 90 cents per share.
Lännen Tehtaas is focusing on differentiating as a Frozen Foods maker from home-grown raw materials. It is also active in the SeaFood business. The company expects growing sales and higher profits in 2013 due to organic growth and acquisitions. The result is sensitive to grains and oilseeds prices. Shareholder agreement dispute in associated company Sucros may have a material effect with a decision expected in H2 2013.
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