Kavli Group, which also owns Q, announced Saturday figures for 2014. The figures show that for the first time exceeded revenues of over three billion. The Group’s turnover has increased by nearly one billion in the past five years.
– In 2014, we have made investments, acquisitions and other measures that make us ready for continued growth in revenue and profitability, says CEO Erik Volden in a statement.
Read also: Q will expand and the pursuit of more milk
Revenue grew in 2014 by 10.9 percent from the year before, and the company had an operating profit 221 500 000 million before tax. It is up 20.9 percent from 2013.
Q drag down performance
Q contributes to growth for the entire group. Kavli has invested in the Norwegian dairy company ever since it was established in 1998. It has in recent years has given good results.
– The greatest opportunities for organic growth, we see Q, where we are small challenger in the Norwegian dairy market. Here we assume, however carefully before each investment, since we rely on predictability to get return on investment, says violence in the press release.
He points out that in 2013 there was a change of framework conditions that got a significant negative effect in 2014.
This contributed to Q, in spite of increased turnover, got weaker operating in 2014 than a year.
Q dairy the sales growth in the grocery stores increased 80 million last year, giving an increase of seven percent compared with the year before.
Growth abroad
Kavli Group is established in Norway, Sweden, Denmark, Finland and the UK. The last five years the Group has doubled its turnover in Sweden and the UK through organic growth and acquisitions. In
See also: Q farmers disrupted the on larger Regions for milk quotas
Kavli has in 2014 invested further in the UK and Sweden through inter alia the acquisition of Svenska Smakupplevelser AB, which supplies chilled sauces and dressings on the Swedish market.
Kavli Trust, as a charitable foundation that provides significant sums for humanitarian work, research and culture, owns the Kavli Group. 56 million of last year’s profit is now transferred to the Kavli Trust, according to the group.
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