GERMANY: Suedzucker raises FY estimates on strong trading

German sugar group Suedzucker has increased its full-year financial expectations, having outperformed its targets in the first nine months of its fiscal year.

Suedzucker said that group revenues within the first nine months had risen by around 5% to EUR4.67bn (US$6.23bn). Group operating profit increased by 35% to EUR416m. All segments contributed to the revenue and earnings improvement, the company said.

For the full financial year 2010/11, Suedzucker now expects an increase of group revenues to around EUR6bn and a hike of group operating profit to a level of around EUR500m. In October, Suedzucker forecast annual revenues of EUR5.8bn and annual operating profit of EUR450m.

“The boost in earnings will be driven predominantly by the segments sugar and CropEnergies,” Suedzucker said today (17 December).

The full interim report for the first nine months of the company’s fiscal year will be published on 13 January.