Huhtamäki's comparable net sales growth was 3% during the 1Q 2017 with all business segments having a positive contribution to growth. Huhtamäki's 1Q 2017 net sales grew to Euro 739 million, compared to Euro 672 million in 1Q 2016, as the company said in the press release received by Lesprom Network.
Profit for the 1Q was Euro 45 million, compared to Euro 43 million in 1Q 2016. Earnings per share (EPS) were Euro 0.43.
The Group's earnings before interest and taxes (EBIT) were Euro 63 million, compared to Euro 58 million in 1Q 2016. Positive foreign currency translation impact on Group's EBIT was Euro 2 million.
Jukka Moisio, CEO, said: "Our year started well and we achieved 3% comparable net sales growth with all business segments growing organically. Growth was driven by Foodservice Europe-Asia-Oceania segment, where organic growth was boosted by acquisitions completed in 2016. In addition, the Flexible Packaging segment returned to positive growth. The Group's comparable growth in emerging markets was reduced to 2% as consumer demand in India was impacted by the demonetization action executed by the government in 4Q 2016. Without the Indian impact emerging market growth would have been approx. 6-7%."
Huhtamaki is a global specialist in packaging for food and drink.
