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By Reuters Staff
2 Min Read
PARIS, Feb 16 (Reuters) - Sugar group Tereos on Tuesday reported higher third-quarter core earnings on the back of improving sugar prices, but the French company said factors including the coronavirus pandemic and a weak Brazilian real would curb profits in the year ahead.
Tereos, the world’s second largest sugar maker by volume, is currently reviewing its strategy after a change of leadership in December that followed a legal tussle between former management and some of its cooperative members.
The group reported that adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose to 135 million euros ($163.85 million) in its third quarter to Dec. 31, 2020, up 11% compared with the year-earlier period at current exchange rates.