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April 19, 2005

AUSTRIA: Agrana reports rise in sales, profits

Sugar and starch group Agrana has reported rises in sales and profits for the year ended 28 February 2005.

Sugar and starch group Agrana has reported rises in sales and profits for the year ended 28 February 2005.

Provisional results show that sales rose to €981.0m from €866.4m in the previous year. Profit before tax rose to €93.2m from €70.7m.

“Although sales revenues grew by 13.2% overall during the financial year, weaker sales of sugar and starch products in all our national markets during the fourth quarter of the financial year meant that did not quite achieve the revenues target of €996m that we still thought possible at the end of the third quarter,” the company said. “Nonetheless, profit from operating activities, profit before tax and consolidated earnings all exceeded our expectations.  As a result, AGRANA can report its best full-year result since being founded in 1988.”

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