• Group pre-tax profit in the third quarter totalled NOK 2,234 million (NOK 1,461 million)¹. The NOK 773 million increase was largely due to high portfolio gains. Operating profit before amortisation was on a par with last year.
• Orkla Branded Consumer Goods has implemented a number of measures to improve profitability at Orkla Foods. These measures will take effect gradually and the aim is to correct the profit situation in the course of 2008. Orkla Brands reported satisfactory profit for the third quarter.
• In Orkla Aluminium Products, Sapa’s and Alcoa’s profile businesses have been merged and the new company, Sapa AB, was fully operational from the third quarter of 2007. This resulted in a significant rise in operating revenues and a good foundation for future growth but, as expected, the contribution to third quarter profit was more moderate.
• Orkla Materials reported 2 % profit growth. Generally good markets for many of its business areas were partially offset by higher raw material costs and an unfavourable currency situation. The combination of a strong NOK and a weak USD has a negative impact for both Borregaard and Elkem.
• Orkla Associates had another good quarter and the contribution to profit from associates increased by 32 % to NOK 197 million. REC increased its EBITDA by 23 % to NOK 643 million, while Jotun continued to report good profit growth.
• The exposure of the Share Portfolio has been reduced somewhat and net portfolio gains of NOK 1,398 million were realised in the third quarter. The return on the portfolio was 13.3 % at the end of September.

¹The figures in brackets refer to the corresponding period of the previous year
²Excluding acquisitions, divestments and currency translation effects