Savencia SA Announces Group Earnings Results for the Half Year Ended June 2017; Provides Earnings Guidance for the Second Half of 2017
The group's current operating profit for the second half of 2017 should be negatively impacted by: A significant increase in the cost of milk and in the world prices for butterfat given the scarcity of butter in the European and world markets; The timing gap between raw material cost increases and their necessary repercussion on price lists; The fall in world prices for dairy proteins observed during the summer as a result of the importance of the available world inventories; The rising value of the euro.