Suominen lowers 2018 sales and profit estimates

CLOVERDALE, CA, September 13, 2018-

Suominen announced it is lowering its estimates for 2018 net sales and profits, citing “the continued increases in raw materials prices” as well as “slower than expected impacts of the actions taken in the 3P profitability improvement program.”

The company said that, “In its half-year report, disclosed on 3 August 2018, Suominen expected that for the full year 2018, its net sales will improve from 2017 and its comparable operating profit will be at the level of 2017.” Now, however, it expects net sales this year will be “at the level of 2017” while operating profit on a like-for-like basis “will be significantly lower than in 2017.”

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