Imperial Sugar received an offer of acquisition earlier this week,
while Cargill announced its intentions to further invest in
Brazilian sugar and General Mills had its rating outlook revised
from negative to stable.
Imperial Sugar yesterday (Thursday) announced a higher
first-quarter profit, but predicted that operating income would
fall significantly in 2005 as the sugar industry remains
challenging, reports Philippa Nuttall.
Plant closures and 'competitive pressures?saw profits slide for US
sugar giant Imperial Sugar despite a rise in operating income for
the first quarter. Global sugar surplus keeps the prices down and