Danish food ingredients firm Danisco has reported flat earnings for the first half to 31 October, but said sales were boosted by the acquisition of Rhodia Food Ingredients.

The company said earnings per share were DKK14.25 (US$2.54), compared to DKK14.23 a year earlier, while consolidated profit grew 29% to DKK727m. Net sales were DKK8.61bn, compared to DKK8.25bn a year earlier.

Adjusted for changes in exchange rates, sales in the ingredients and sweeteners business grew 15%, mainly as a result of the acquisition of Rhodia Food Ingredients (RFI). However, organic growth was low because of a difficult market situation in Europe, and sales development in sugar was weak, the company said.

For the full year, the company said sales are now expected in the range of DKK17.6bn-18.6bn, compared to a previous estimate of DKK17.5bn-19.0bn.