Austria-based Agrana announced a revenue increase of 3 per cent in its first three quarters, overcoming the challenges of sugar restrictions and weather-induced crop failures.
The sugar, starch and fruit preparation company experienced revenue of €1,418.7m in the first three quarters of 2007/8, up from €1,380.4m in the same period the previous year.
"The reform-driven decrease in sugar revenue was successfully offset in the first nine months by Agrana's other two revenue streams,"said CEO Johann Marihart.
Revenue in the starch segment was €231.9m in the first three quarter, which is 25 per cent higher than the previous year's comparative level of €186.1m.
This growth was driven by an increase in sales of saccharification products and bioethanol as well as higher market prices. Segment operating profit was €27.9m compared to €22.4m in the first three quarters of 2006/07.
The profit expansion resulted from the volume growth and a higher component of value added.
Agrana restructure enables revenue increase
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