Rogers Sugar: Drops as COVID-19 clouds result, outlook

Rogers Sugar

03/02/2021 15:25

** Canadian sugar processor's shares  RSI.TO  fall as much
as 2.4% to three-week low of C$5.37
    ** RSI says growth in sugar shipments slows to just 1% in
Q1, from 14% in Q4, and Q1 adjusted EBITDA drops 9% to C$27.6
mln, hurt by the 'unexpected' deferral of some customer orders
mainly in the food service industry  urn:newsml:reuters.com:*:nGNX3JSxSq
    ** RSI says it also spent more on protecting its employees
from COVID-19 in Q1 and faced higher supply chain costs 
    ** Says COVID-19 pandemic related uncertainty and increased
demand volatility make it difficult to estimate the impact on
future sales volumes and financial results
    ** YTD, stock has fallen about 4%

 (Reporting by Ankit Ajmera in Bengaluru)
 ((Ankit.Ajmera@thomsonreuters.com))