High sugar prices have helped boost annual profits at French processor Tereos.

The company today (26 January) reported a 26% jump in underlying EBITDA to EUR752m (US$988.9m) for the year to the end of September. Turnover was up 25% at EUR4.41bn.

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Looking ahead, Tereos said it would continue to reduce energy costs and improve crop yields to achieve sugar beet crops of 110 tonnes per hectare in 2010.

“These advances should help to reduce the cost differential between sugar beet and sugar cane,” it said.

Tereos said its grain processing division would be extended to cassava and potatoes, two new raw materials for the group.

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