Nutreco reports higher revenue in 2012 Q3

2012-10-18 08:55:27 GMT2012-10-18 16:55:27(Beijing Time)  Xinhua English

The revenue of Dutch animal food producer Nutreco grew by 13 percent in the third quarter of 2012 compared to the same period last year to 1.48 billion euros (about 1.94 billion U.S. dollars), the company announced here on Thursday.

Turnover of the animal nutrition division rose by 7 percent, mainly due to rising prices. However, volumes decreased by 3 percent as a result of difficult market conditions, particularly in Spain.

The fish food division, in the meantime, saw its revenue rise by 21 percent and volume increase by 15 percent, largely thanks to the acquisition of Chinese fish and shrimp feed company Shihai Co Ltd.

"I am satisfied with the overall results in the face of tough economic conditions and against a background of higher raw material prices affecting our customers," said Knut Nesse, CEO of Nutresco. "With innovative and sustainable feed solutions we are supporting our customers to cope in these challenging times."

Despite the uncertain global economic environment, Nutreco expected its earning before interest, tax and amortization to reach around 260 million euros in 2012, up from 232 million euros in 2011.

Editor: Miao Miao
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