Danish food ingredients firm Danisco has posted a 13% fall in quarterly net profit, due to the weak dollar, fierce competition and higher raw material costs.
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The company posted net profit of DKK149m (US$24.7m) for the third quarter to the end of January. Nine-month net profit was DKK690m, compared to DKK695m in the year-ago period. Third-quarter sales slid to DKK3.77bn from DKK3.83bn
Earnings before interest, tax and amortisation (EBITA) fell to DKK446m from DKK495m a year earlier.
The company lowered its full-year EBITA outlook to between DKK2.1bn and DKK2.2bn, compared to its previous guidance of between DKK2.1bn and DKK2.225bn, reported Dow Jones News.
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