Arla Foods Reports $175.7m Annual Profit

Arla Foods has reported 2009 annual profits of DKK971m ($175.7m), which is DKK71m ($12.8m) higher than its budget.

The Swedish-Danish cooperative in Århus, Denmark, said it has saved DKK840m ($152m) by adopting a cost savings programme.

The company’s financial results saw an impact of the recession, which was compounded by prices on the global dairy market, decreasing at the beginning of 2009, Arla said.

A rise in the price for bulk industrial products at the latter end of the year resulted in Arla’s profit being slightly ahead of budget.