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Suedzucker confirms 90% quarterly profit surge as sugar sector recovers -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: The headquarters of Suedzucker Group in Mannheim, Germany is shown with a company logo on it. It was taken March 12, 2019 REUTERS/Ralph Orlowski

HAMBURG (Reuters – Europe’s top sugar producer Suedzucker announced a 95% increase in its third quarter operating profit, attributed to an improving sugar market.

Suedzucker stated that the operating profit for the three months ending Nov. 30 was 127 million Euros ($145.30 Million) based on increased sales of 17.4%, or 2.04 Billion euros.

Company had released its earnings ahead of schedule on December 15.

Suedzucker reiterated in December its forecast of full-year operating profits for the group between 320m and 380m euros. That’s an improvement on last year’s 236m.

($1 = 0.8740 euros)

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