It is reported by Reuters.

In an advance earnings release, Suedzucker reported a 25% increase in group operating profits for the three months to the end of August to about 85 million euros ($100 million). Sales rose 10% — to 1.84 billion euros.

The sugar business posted quarterly operating profits of about 7 million euros against a loss of 42 million euros in the same period last year.

Suedzucker had said in July it hoped its results would improve on expectations the economic impact of the pandemic would subside.

«We have achieved an improvement in the sugar sector partly because of our cost cutting and improved sugar prices, — a Suedzucker spokesman told Reuters. — We said at the beginning of the current financial year that we hoped to achieve operating profits in our sugar sector of between zero to 100 million euros and this remains our expectation. The overall sugar market outlook is still uncertain because of the pandemic. But we are hoping that more progress will be made in combating the pandemic in coming months».