Danish food ingredients giant Danisco has announced consolidated profit of DKK164m (US$19.4m) for the Q3, ended 31 January 2002.

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This figure is down from DKK223m year on year, which the company explained was a result of unfavourable market conditions at the end of the calendar year, which impacted on earnings (EBITA) in its Ingredients and Sweeteners segment. Changes in the EU sugar regime also affected earnings (EBITA) in the Sugar segment negatively.


Consolidated profit for the full year is now expected to be around DKK900m, at the conservative end of the company’s previous forecast of DKK900-975m.


Third quarter


Net sales in Danisco´s main business areas – Ingredients, Sweeteners and Sugar – grew to DKK3.85bn (DKK3.83bn), up 0.5% on the Q3 of last year. The Ingredients and Sweeteners segment reported 8% sales growth to DKK2bn, whereas net sales in the Sugar segment decreased by 6% to DKK1.9bn.

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As forecast, the consolidated profit came to DKK164m. This is mainly attributable to the completed refocusing of Danisco. Based on the new earnings platform, Danisco´s consolidated profit margin increased to 4.14%.


Earnings (EBITA) in the main business areas declined by 14% to DKK472m (DKK548m). The decline was evenly distributed. Ingredients and Sweeteners were affected by unfavourable market conditions towards the end of the calendar year. Sugar was impacted by the change in the EU sugar regime.


Nine months


In the main business areas, net sales advanced to DKK12.5bn (DKK11.8bn) during the first nine months of 2001/02, reflecting a 6% increase on the same period of last year.


Danisco´s consolidated profit came to DKK689m, up 7%. Consolidated profit margin increased to 5.1%, up 42% on the same period of last year, the main reason being the change in Danisco´s business platform.


During the same period, earnings (EBITA) grew by some 2% to DKK1.75bn (DKK1.72bn).