January 29, 2013 / 8:48 AM / 5 years ago

UPDATE 1-Suedzucker to meet full-year targets - paper

* CEO says to achieve goals on 2012/13 sales, profit

* Considers acquisitions but no current target (Adds analyst comment)

HAMBURG, Jan 29 (Reuters) - German group Suedzucker , Europe’s largest sugar company, will achieve profit and sales targets for its fiscal year to end-February, its chief executive was quoted as saying in an interview with the daily Handelsblatt.

“We will achieve our forecast of a sales increase from 7 to 7.5 billion euros ($10 billion) and also the increase in (operating) profit from 751 to over 900 million euros,” Wolfgang Heer said.

He repeated that Suedzucker was considering acquisitions. “But there is currently no concrete acquisitions project.”

On Jan. 10, Suedzucker reported sales and earnings above expectations and said it remained confident of a rise in full-year profit because its key sugar division was seeing strong demand.

Suedzucker got European Union approval in 2012 to buy a 25 percent stake minus one share in British commodities trading company ED&F Man for $255 million.

DZ Bank said it was keeping its ‘buy’ recommendation on Suedzucker stock following the report on Tuesday.

DZ also said in a note Suedzucker could increase its 2012/13 dividend to 1.0 euro from 0.70 euro partly by using tax credits, compared with a forecast for a 0.84 euro dividend in a Reuters poll.

Suedzucker shares were up 0.3 percent at 0845 GMT. ($1 = 0.7429 euro) (Reporting by Michael Hogan; Editing by David Holmes and Dan Lalor)

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