Dutch food ingredient firm CSM today (Wednesday) announced a fall in profit to €162.5m (US$213.1m) for 2004, compared with €177.5m in 2003.
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Turnover in 2004 was €3.475bn, compared with €3.484bn in 2003.
“We have taken measures in all parts of the company to improve the disappointing results half-way through the year. Though it is still too early to talk of a marked improvement in profitability, an upturn was discernible in the last months of 2004,” said Jaap Vink, chairman of the board of management.
“Now that CSM is transforming into a global player in bakery supplies and food ingredients, we are gearing up to face huge challenges,” he said.
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