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.
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.
The 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.
