Netherlands-based bakery ingredients supplier CSM has posted a dip in full-year profits due to rising input costs.
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EBITA fell 2.1% to EUR154m (US$232m) in 2007 thanks to rising commodity costs and a weak US dollar.
CSM saw sales rise 7.9% to EUR2.48m, due to some success in increasing prices in Europe and North America.
CEO Gerard Hoetmer said moves to restructure the business would give the business more focus this year. “We now have a much stronger focus on market and customer, and at the same time operational effectiveness has been enhanced. This is reflected, amongst others, by the fact that we are passing on the sharply rising costs of raw materials in our selling prices.”
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