German sugar refiner Südzucker posted an increase in first-quarter net profit as the company reported improved returns on its sugar, crop energies and fruit segments.

The company today (14 July) posted a 26.6% increase in net income to reach EUR92m (US$130.9m) for the first quarter ended 31 May. Revenue rose some 6.9% to reach EUR1.6bn.

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The company said that higher prices drove operating profit growth from its sugar division. Operating profit rose to EUR111m from EUR94m in the previous year despite a a 2% decline in revenue to EUR828m.

The company’s crop energies division reported a 40% increase in revenues to EUR124m. Operating profit grew to EUR15m from EUR2m in the same period of the previous year.

Südzucker’s fruit segment attributed growth to higher volumes, with revenue up 6% on 38% increase in operating profit to reach EUR18m.

Revenue in the company’s special products segment rose over the quarter, up 20% to EUR450m, operating profit was flat over the quarter at EUR40m.

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