Danish food ingredient giant Danisco this week reported a solid profit of DKK 940 million (€126.4m) for the year ending 30 April 2002.
Acquisitions in the ingredients and sweeteners sector boosted sales in this segment. Earnings rose 8 per cent to reach 1,316 million (€177m).
In a statement this week Danisco said that the acquisitions helped to enlarge the existing business areas through geographic and capacity expansion (Germantown) as well as product expansion in the field of flavours (Perlarom).
Net sales in Danisco's main business areas - Ingredients, Sweeteners and Sugar - were up 5 per cent from last year, reaching DKK 16.67 billion (DKK 15.88 billion). This increase was comprised of a 10 per cent improvement in ingredients and sweeteners with net sales amounting to DKK 8.53 billion (DKK 7.78 billion), whereas net sales of sugar as forecast rose to DKK 8.35 billion (DKK 8.27 billion), up only 1 per cent.
The final divestments of Danisco Pack and Danisco Foods helped to further sharpen the focus of Danisco, and, according to a statement, the company is now ready to execute its strategy of 'Innovation and acquisitions in the ingredients business'.