Amsterdam / NL. (csm) Dutch food group CSM has made further progress with the implementation of its initiatives in the first half-year of 2007. The country-based European Bakery Supplies organization is being transformed into a market-oriented European business unit structure. Strategic acquisitions in out-of-home growth markets and the sale of non-strategic activities are leading to more focus. The implementation of the 3-S efficiency improvement program is on schedule. The favorable trend in Ebita due to those structural improvements was significantly offset by adverse effects of strong increases in the prices of raw materials and exchange rate fluctuations, particularly at Purac. As a result of these effects the financial targets set for Purac and therefore for CSM as a whole will be achieved in 2009 instead of 2008.
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