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Premia Foods 2nd-Quarter Profit Rises 38% on Ice-Cream Unit

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Aug. 15 (Bloomberg) -- AS Premia Foods, the largest Baltic frozen-food producer, said second-quarter profit rose 38 percent from a year earlier, helped mainly by its ice-cream unit.

Net income rose to 1.1 million euros ($1.6 million) from 758,000 euros a year earlier, the Tallinn-based company said in a regulatory statement today. Revenue rose 30 percent to 27.6 million euros.

The company’s ice-cream unit, boosted by the acquisition of Saint Petersburg, Russia-based OOO Khladokombinat No. 1 in May last year, increased gross profit by 41 percent from a year earlier to 5.3 million euros.

To contact the reporter on this story: Ott Ummelas in Tallinn at oummelas@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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