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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.
Kronfågel 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).
Editor WorldPoultry
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