May 23, 2019 / 9:36 AM / a month ago

Germany’s Nordzucker posts loss, forecasts another this year

BRAUNSCHWEIG, GERMANY, May 23 (Reuters) - Germany’s second largest sugar refiner Nordzucker on Thursday became the latest major European producer to post a loss as the industry battles against low prices.

Nordzucker posted a 36 million euro ($40.09 million) loss for the financial year to end-February versus an after-tax profit of 118 million the previous year.

The unlisted company said it expects operating losses in the current financial year as well.

“For the financial year 201/20 Nordzucker expects negative results because of continued low prices,” the company said in a statement at a news conference. “But a steadily growing world market promises better prices in the medium term.”

$1 = 0.8979 euros Reporting by Michael Hogan, editing by Jason Neely

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below