Sweden-based vegetable fats specialist AarhusKarlshamn (AAK) (which recently changed its name to just 'AAK') has enjoyed a sweet start to the year. Volumes were up 11 per cent in the first quarter, driven by 4 per cent like-for-like growth, but also by acquisitions in Belgium and Colombia. That pushed group operating profits 12 per cent higher.
Food Ingredients had a solid period, reporting 8 per cent underlying growth. Volumes in the bakery segment recovered, following a challenging 2014, while chocolate & confectionary fats continued to improve, despite deteriorating market conditions in the Ukraine and Russia, which depressed volumes in the quarter. Meanwhile, food service sales grew and commodity products reported strong volume increases for the second consecutive quarter.
