Agrana, Central Europe's leading sugar producer, expects a decline in profit in the coming period due to low sugar commodity prices, the company said.
“Given the persistently difficult market environment, the sugar segment is expected to record a negative operating profit after exceptional items in the upcoming financial year,” Agrana said in a press release.
The Austria-based sugar, starch and fruit company achieved revenue of € 2,493 million in the financial year ended 28 February, a 12 per cent decline from last year's figures.
At €121.7 million, Agrana’s operating profit after exceptional items (EBIT) was also 27 per cent below the prior-year level in the 2014/2015 financial year.
Agrana attributed the decline to lower prices for sugar, ethanol and fruit juice concentrate.
Austria-based Agrana Zucker GmbH is one of the leading sugar companies in Central and Eastern Europe. Through its country-specific sugar brands, such as Wiener Zucker in Austria and Koronás Cukor in Hungary, Agrana offers a wide range of sugar and speciality sugar products.
© 2015 European Supermarket Magazine – your source for the latest retail news. Article written by László Juhász.
