Danish food and ingredients firm Danisco has announced a rise in income for the first quarter ended 31 July, but profits fell.
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Revenue for the quarter was 5.162bn Danish Kroner (US$840m), compared with 4.206bn kroner in the same period last year. Profit for the period was 268m kroner, compared with 398m last year. Operating profit before special items was 558m kroner, compared with 554m last year.
“The ingredients business is winning market shares and Europe showed rising growth rates,” the company said. “Sugar was impacted by the large amount of excess sugar still available on the European market. Higher energy prices have led to a slight adjustment of earnings expectations for sugar. Otherwise outlook is maintained.”
