INTERNATIONAL – Starch based ingredients firm Cerestar announced its results for 2001 this week, and said that profit had been hit hard by a rise in energy costs.

The French company saw turnover up from 1.6 billion euro in 2000 to 1.8 billion in 2001. Profit was up to 24.8 million from a loss of 20.7 million in 2000. However, Cerestar said that it lost 23 million euro in 2001 through increased energy costs.

Cerestar manufactures starch based ingredients, many of which are used in the dairy industry in desserts, yogurts, canned custards, low fat butters, fresh cheeses and cheese sauces.

Earlier this year, a 56% stake in Cerestar was purchased by USA based Cargill from Montedisson. In February, the deal was referred to a UK Competition Commission enquiry. Cargill has said that the result of the enquiry will not affect the acquisition.