Suedzucker to achieve full-year profit, sales targets- paper

Suedzucker, Europe’s largest sugar company, will achieve its profit and sales targets for its 2012/13 fiscal year ending on Feb. 28, CEO Wolfgang Heer was quoted saying in an interview published on Tuesday.

“We will achieve our forecast of a sales increase from 7 to 7.5 billion euros and also the increase in (operating) profit from 751 to over 900 million euros,” Heer told the daily Handelsblatt.

Suedzucker had on Jan. 10 reported sales and earnings above analysts’ expectations and said it remained confident of increasing its full-year profits as its key sugar division meets strong demand.

Heer repeated Suedzucker is considering acquisitions. “But there is currently no concrete acquisitions project,” he told the newspaper.

Suedzucker in 2012 gained EU approval to buy a 25 percent shareholding minus one share in British commodities trading company ED&F Man for $255 million.


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