Suedzucker quarterly profits surge, sees higher full year earnings

CropEnergies AG

13/10/2022 06:14

HAMBURG, Oct 13 (Reuters) - Europe's largest sugar
producer Suedzucker  SZUG.DE  on Thursday posted a rise of
almost 80% in quarterly earnings and again forecast increased
full year profits, despite higher energy and raw materials
costs, supported by strong performance of its sugar and biofuels
sectors.
    Suedzucker said operating profit in the second quarter to
end August of its 2022/23 fiscal year rose 79.5% to 153 million
euros ($148.44 million) from 85 million euros in the same
year-ago quarter.
    A strong performance by its biofuels unit CropEnergies
supported earnings, it said. 
    Suedzucker repeated its forecast made in August of a 2022/23
full year operating profit of 450 million to 550 million euros,
up from 332 million euros the previous year. 
($1 = 1.0307 euros)
 (Reporting by Michael Hogan, editing by Miranda Murray)
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