Danish sugar and food ingredients maker Danisco has reported an 8% rise in fiscal full-year net profit but forecast flat earnings in the current year.
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For the year to end-April, consolidated net profit before minority interest rose to DKr1.0bn (US$158.1m) from DKr940m in the year earlier, higher than the DKr959m forecast by a Reuters poll of analysts.
Sales fell slight short of forecasts to DKr16.6bn, from DKr17.7bn a year earlier. Sales had been forecast at DKr16.7bn.
Earnings before interest, tax and amortisation (EBITA) were unchanged at DKr2.3bn.
For the current fiscal year Danisco said it expects a net profit of between DKr900m and DKr1.0bn on sales of between DKr16bn and DKr17bn, in line with analysts’ expectations.
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By GlobalDataThe company said it is on the lookout for potential acquisition targets in the ingredients and sweeteners sector, having earlier said substantial acquisitions were needed to reach Danisco’s five-year target of doubling its Ingredients and Sweeteners unit’s sales by 2005.
