(SeeNews) - Jan 25, 2013 - French sugar, ethanol and starch maker Tereos announced yesterday a net profit of EUR 313 million (USD 420.5m) for fiscal 2011/12, ended September, up 32%.
Revenue rose by 14% to EUR 5 billion, while adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 20% to EUR 904 million.
The company registered record beetroot harvests in Europe and reaped the benefits of its long-term strategy, which envisages industrial restructuring and international expansion.
Tereos said it will start production at its first plant in Asia, in Guangdong province of China, in the first half of 2014.
Construction works have already begun, Alexis Duval, chairman of the executive committee, said.
The project, which requires an investment of EUR 35 million, is financed by the capital increase launched in June 2012 and is the result of Tereos' partnership with Singapore's palm oil, cereals and sugar maker Wilmar (SGX:F34).
The plant will process 500,000 tonnes of wheat to produce glucose-fructose syrup and grain alcohol, very popular in China.
Return on investment is forecast in six to eight years.
(EUR 1.0 = USD 1.343)
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