Third quarter: sustained positive business development
Revenues and net income developed highly positively in the first nine months of the 2016/2017 financial year. The profit for the period was improved significantly to EUR 81.7 million, following a surplus of EUR 0.4 million in the same period of the previous year.
The positive course of business is also expected to continue for the remaining three months of the financial year. The good development is attributable to the stabilization of market prices over the course of the year and to higher sugar sales, with both of these factors contributing to an increase in revenues of approximately nine per cent compared to the previous year`s period. The comprehensive measures to cut costs and boost efficiency as part of the FORCE project are now increasingly having an impact on our net income.
Making a forecast for the 2017/2018 financial year is proving difficult. The market will have to find a new equilibrium after the quota regime expires, with imports, exports and potential capacity expansions on the part of competitors playing a significant role here.