Paris: Rise in the sugar and ethanol prices helped the French sugar group Tereos post strong first-half results with a sharp rise in earnings, reports Reuters.
The high prices of sugar and ethanol enabled the world’s second-largest sugar maker to offset an increase in production costs.
The company posted a net profit of 133 million euros in the year to Sept.30 as against a loss of 50 million euros during the preceding year.
The EBITDA (adjusted earnings before interest, tax, depreciation and amortization) rose 132% to 464 million euros.
The company is one of the largest sugar and ethanol producers in Brazil and it is expected to get benefits from high prices and higher sugarcane crushing in the country.