NORWAY: Orkla profits fall 29%
The Norwegian consumer goods to investment company Orkla ASA yesterday announced that it had recorded a 29% fall in first-quarter net profit due to weak results from its media division and lower profits on share sales. "Orkla's industrial activities have had a good start this year and we see a positive development - apart from in Media," chief executive Finn Jebsen said in a statement. "The fact that first-quarter profit before tax has nonetheless declined is primarily because we have realized lower profit on sales of shares."
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