Strong group result from Lyckeby

The Swedish Lyckeby Group celebrates its 90-year anniversary with a strong result for 2016.

All entities in the Swedish based Lyckeby Group, Lyckeby Starch, Lyckeby Culinar, Kockens, as well as international based companies, reports growth with a satisfactory profitability from 2016.

PRESS RELEASE

The total reported turnover for the fiscal year September 2015 to August 2016 is 1 376 MSEK. That equals a growth of more than 10%. The result before depreciation grows with 7 percentages to a total of 107 MSEK. 

The growers of starch potato have experienced a significant improvement of the profitability during the last five years. The positive return for the growers is a result of higher yields, increased content of starch from the potato, but also from the ambition by Lyckeby Starch AB to increase the acreage of cultivated starch potato.

Reports from the current financial year are also positive. After four months, the company delivers a significant improvement in the result compared to the same period last year, in spite of increased raw material prices.

Looking ahead, the company now plans for a substantial investment plan to increase capacity of speciality starch offered to the food industry. Furthermore, the increase of starch potato is expected to continue in the upcoming campaign of 2017, this year a growth of 7-8% is forecasted.

The Swedish Starch Producer Association (Svenska Stärkelseproducenter Förening) was founded in 1927. This 90-year anniversary was highlighted on the recent general assembly and will be celebrated at many occasions during 2017 with the owners, employees and the customers of Lyckeby Group.

We have a positive view of our future prospects and we are convinced that cultivation of starch potato will remain a profitable alternative for the members of our cooperative, concludes Hans Berggren, CEO.

Kristianstad 2017-01-30

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