Vienna / AT. (ag) In the completed 2007/2008 financial year the Austrian Agrana Group sustained its growth trajectory in the Starch and Fruit segments despite difficult conditions in raw material procurement. Developments in the Sugar segment were defined by the consolidation of the sugar market in the course of the EU sugar regime reform. In the twelve months to 29 February 2007/2008, based on final data, Agrana recorded revenue of 1’892,3 million EUR, which as expected was slightly off the prior-year level of 1’915,8 million EUR. The key reason was the absence of the additional two months of revenue that had been included in the Fruit segment´s prior-year results to align the segment´s year end with that of the Agrana Group. Based on a twelve-month comparison that eliminates this effect, Group revenue grew by six percent.
Thanks to the good performance in the Starch and Fruit segments, Group operating profit before exceptional items rose from 107,0 million EUR to 111,4 million EUR, or by four percent. As a result of 9,9 million EUR in restructuring costs and other exceptional items in all segments, however, operating profit after exceptional items eased from the prior year´s 105,8 million EUR to 101,5 million EUR.
«Despite difficult fundamentals such as the global commodity boom and speculation in agricultural commodities, combined with the reform of the EU sugar regime, we acquitted ourselves well», notes Agrana CEO Johann Marihart in connection with the presentation of the 2007/2008 financial results. «Our strategy of diversification through the three pillars of Sugar, Starch and Fruit, coupled with our strong global expansion especially in the last few years, has definitely proven itself in this very challenging market environment».
Details: https://www.agrana.com/en/press/913_7736.asp
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