Suedzucker confirms 90% quarterly profit surge as sugar sector recovers

Reuters

HAMBURG – Europe’s largest sugar producer Suedzucker confirmed a rise of about 90% in third quarter operating profit on Thursday as an improved sugar market boosted earnings.

Suedzucker said operating profit in the three months to Nov. 30 rose to 127 million euros ($145.30 million) on sales up 17.4% to 2.04 billion euros.

The company had made an advance release of earnings on Dec. 15.

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Suedzucker repeated its December forecast that it expects full year group operating profits between 320 million and 380 million euros, up from the previous year’s 236 million.


($1 = 0.8740 euros)


(Reporting by Michael Hogan, editing by Miranda Murray)

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