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.