French sugar maker Cristal Union posts 40% profit rise

France's second-largest sugar maker Cristal Union on Monday posted a net profit of 97 million euros ($102 million) in the 2021/22 financial year, up from 69 million euros a year earlier.

It is reported by Reuters.

Its turnover was up 6.4% at 1.8 billion euros in the year to Jan. 31, while adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose to 206 million euros from 201 million a year earlier, the cooperative group said.

Sugar and ethanol groups, including French competitor Tereos and Germany's Suedzucker (SZUG.DE), have reported strong earnings in the past fiscal year as they benefitted from a rise in prices and soaring oil markets.