Südzucker AG Sees Slight Drop In Revenue In First Quarter
Sugar giant Südzucker AG, based in Mannheim, has posted consolidated group revenues of €1.608 billion for the first quarter of the year (to 31 May), a slight drop from the €1.629 billion it posted in the same period last year.
The company said that its 'sugar and CropEnergies segments' revenues declined, while the special products and fruit segments reported an increase' in the period.
Lower revenues in its sugar business (€694 million), were mainly due to 'the lower non-quota sugar volumes resulting from the reduced harvest in 2015', the group said.
Südzucker AG is anticipating to post group consolidated revenues of between €6.4 billion and €6.6 billion (2015/16: 6.4) for fiscal 2016/17.
'The sugar segment's revenues are forecasted to remain the same as last year,' it said.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.