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May 8, 2002

FRANCE: Beghin-Say posts 83% rise in profits

French sugar manufacturer Beghin-Say yesterday [Tuesday] reported an 83% jump in first quarter net profits, as one-off costs fell and operating efficiency improved. Beghin-Say, one of the four companies created by the dissolution of Franco-Italian food processor Eridania Beghin-Say, said net attributable profit came in at €14.3m (US$13.0m), compared with a proforma level of €7.8m in the comparable period of last year.

French sugar manufacturer Beghin-Say yesterday [Tuesday] reported an 83% jump in first quarter net profits, as one-off costs fell and operating efficiency improved.

Beghin-Say, one of the four companies created by the dissolution of Franco-Italian food processor Eridania Beghin-Say, said net attributable profit came in at €14.3m (US$13.0m), compared with a proforma level of €7.8m in the comparable period of last year.

Operating profits climbed 12% to 33.5m on sales up 3% to 444.7m, with pre-tax profits from recurring operations improving 37% to €22.4m.

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