Südzucker Q1 Operating Result Rises; Backs FY Revenues Outlook
German sugar producer Südzucker AG (SUEZF.PK) reported that its consolidated group operating result for the first quarter of the current 2016/17 fiscal year rose sharply to 110 million euros from the previous year's 57 million euros. The increase was mainly attributable to the sugar segment, but all other segments also contributed.
But, consolidated group revenues for the quarter declined to 1.608 billion euros from last year's 1.629 billion euros.
Südzucker continues to expect group consolidated revenues of 6.4 billion euros to 6.6 billion euros for fiscal 2016/17, compared to 6.4 billion euros reported last year.
The sugar segment's revenues are forecasted to remain the same as last year. The special product segment's revenues are seen to be slightly higher. Südzucker expects the CropEnergies segment's revenues to range between 565 million euros and 625 million euros and the fruit segment's to grow substantially.
Südzucker expects the operating result to rise further. It should range between 250 million euros to 350 million euros, driven mainly by better sugar segment results. The company had reported operating result of 241 million euros in 2015/16.
After the records set in 2015/16, the company forecasts a significant retreat in the special products and CropEnergies segments. Südzucker expects a year-over-year increase in the fruit segment.(dpa)
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