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Südzucker profit beats consensusin fiscal Q1

Südzucker AG said its normalized net income for the fiscal first quarter ended May 31 came to 11 euro cents per share, compared with the S&P Capital IQ consensus estimate of 5 cents per share.

EPS decreased 46.2% year over year from 20 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €21.5 million, a decrease of 46.2% from €40.0 million in the year-earlier period.

The normalized profit margin dropped to 1.3% from 2.3% in the year-earlier period.

Total revenue declined 8.1% on an annual basis to €1.63 billion from €1.77 billion, and total operating expenses decreased 5.9% from the prior-year period to €1.58 billion from €1.68 billion.

Reported net income fell 57.5% on an annual basis to €20.8 million, or 10 cents per share, from €48.9 million, or 24 cents per share.