January 11, 2018 / 6:22 AM / in 9 months

Suedzucker quarterly earnings fall, but raises sales outlook

HAMBURG, Jan 11 (Reuters) - Suedzucker, Europe’s largest sugar refiner, on Thursday posted a fall in third quarter operating earnings but raised its sales forecast as trading started in the European Union’s new liberalised sugar market.

Suedzucker confirmed its previous forecast of group operating profit in its current 2017/18 financial year of 425 to 500 million euros ($507.8-597.4 million) against 426 million euros in the previous year.

It raised its guidance for full year sales revenues to 6.9 to 7.1 billion euros from a previous forecast for 6.7 to 7 billion, specially significant as the EU’s radical sugar market de-regulation started in September 2017.

Operating earnings in the third quarter to end-November fell 13.1 percent on the year to 103 million euros, and sales rose 6.4 percent to 1.8 billion euros, Suedzucker said.

$1 = 0.8370 euros Reporting by Michael Hogan; Editing by Maria Sheahan

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