News Sugar
Südzucker performs better than expected
The German sugar and food manufacturer Südzucker almost touched the top of its (adjusted) profit forecast over the past financial year. This is apparent from the provisional figures released by the company today (Wednesday 24 March). The sugar division in particular performed well.
In December, Südzucker lowered its profit forecast from €400 million to between €190 and €240 million due to the corona pandemic. The provisional group result for the 2020/2021 financial year (1 March to 28 February) amounts to €230 million. That is almost double the result from last year. At that time, the result was €116 million.
Share price drops after figures are published
At €6,7 billion in 2020/2021, the group's turnover remained the same as last year. The dividend will remain unchanged at €0,20 per share. A trader says in an initial response that the figures are not disappointing, but that further explanation would be desirable. Züdzucker's share price fell by almost 2% today after the publication of the annual figures. The final annual figures will be published on 20 May.
Jurphaas Lugtenburg
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