January 10, 2019 / 6:13 AM / 13 days ago

Suedzucker posts quarterly operating loss on low sugar prices

HAMBURG, Jan 10 (Reuters) - Suedzucker, Europe’s largest sugar refiner, on Thursday posted a quarterly operating loss largely because of low sugar prices.

The group posted an operating loss of 23 million euros ($26.58 million) in the third quarter ending Nov. 30 from a profit of 103 million the same year-ago period while quarterly revenues fell 5.1 percent to 1.71 billion euros.

Suedzucker repeated it expects group operating profit of 25 to 125 million euros in the current 2018/2019 financial year, down from the previous year’s 445 million euros. ($1 = 0.8652 euros) (Reporting by Michael Hogan, editing by Riham Alkousaa)

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