GERMANY: Suedzucker H1 profits rise
German sugar processor Suedzucker has reported an 18% increase in half-year profits on the back of higher sales.
The company said today (13 October) that its net earnings reached EUR145m (US$199.9m) in the six months to the end of August.
Suedzucker's operating profit, which it had already reported last month, was up 23% at EUR347m.
The group's sugar, CropEnergies and fruit divisions all reported higher earnings. However, operating profit from Suedzucker's special products unit, which includes speciality ingredients maker Beneo, fell due to a further increase in commodity prices, which the company has yet to fully pass on.
Sales from all four divisions were up on the same time last year. Suedzucker's group revenues increased 8.8% to EUR3.39bn.
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