News International Sugar Journal

Shares in Suedzucker plunge as profits dip [Registered]

Shares in Suedzucker plunged on 8th April to just under €16 after it warned of a steep drop in revenue and profit this year amid worsening European sugar and bioethanol markets. The market was unhappy with the sugar maker’s outlook for fiscal 2014, which foresees revenue falling to about €7 billion ($9.6 billion) from €7.73 billion last year, and operating profit dropping to about €200 million from €658 million. Suedzucker’s fiscal year began March 1. Abolition of sugar quotas in the European Union from September 2017 is creating some uncertainty amongst sugar producers in the region through being exposed to…

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