Cerestar sees sales down, profit up

FRANCE – Ingredients firm Cerestar has announced that ITS sales fell in the first quarter of 2002, but profit rose.

The company, which operates in Europe, North America and Asia, saw sales at 439.8 million euro for the three months to March 31. This is down on sales for the same period last year, which stood at 460.9 million euro.

However, operating income for the period was 14 million euro, up from 1.3 million euro for the three months to 31 March 2001.

The company said that the market grew slowly in Europe and that it was pleased with its performance in North America. This division saw a loss of 14.6 million euro compared to a 2.6 million euro loss for the first quarter of 2001.

In April, Montedisson sold its 56% stake in Cerestar to Cargill.