Danish ingredients company Dansico has posted a 6% rise in full-year profits and revealed that it is in the final phase of negotiations with bidders for its sugar division.
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Dansico today (23 June) reported a jump in EBITA in the year to 30 April to DKK2.2bn (US$447.6m). Last year, Dansico’s earnings totalled DKK2.03bn.
Group revenue reached DKK18.8bn, driven by organic growth of 5% at the company’s ingredients division. The company added that its sugar business, which is due to either be spun-off or sold, showed a “strong” operating performance.
Dansico is considering a number of options for its sugar operations, which could be worth as much as DKK6bn. The company said that it would continue to work towards a separate listing of its sugar arm, “unless an outright sale proves to be more value enhancing”.
“We continue our quest to increase stakeholder value through our updated strategic priorities and reorganisation … we feel confident that the steps we are taking to transform Danisco into a bio-based, market driven ingredient provider will ultimately create superior value,” CEO Tom Knutzen said.
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By GlobalDataA spokesperson for the company told just-food that no further information was currently available on the sale process. However, the group added that it hopes to put a proposal before shareholders at its upcoming AGM.
