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Suedzucker forecasts rise in full-year profits

Germany’s Suedzucker said it expected its revenue to at least remain stable and its earnings to rise this year as a better performance of its sugar business helps offsets declines at bioethanol unit CropEnergies .

The sugar refiner said it saw its 2016/17 revenue coming to between 6.4 billion and 6.6 billion euros ($7.2-7.4 billion), compared with year-earlier sales of 6.4 billion and operating profit to rise to 250 million to 350 million euros from 241 million last year.

The revenue forecast falls short of analyst consensus for 6.71 billion euros in a Reuters poll, while the operating profit guidance is in line with an average estimate of 321 million.

(Reuters)

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