MANNHEIM (dpa-AFX) - Biofuel producer Cropenergies has specified its expectations for annual operating profit. In the twelve months ending in February, operating profit should be between 225 and 255 million euros, the Südzucker subsidiary announced in Mannheim on Wednesday. Previously, the range was ten million euros lower at the lower end and the same amount higher at the upper end. In the best-case scenario, the SDax-listed company would double its previous year's figure. The forecast for sales remained unchanged at 1.47 to 1.57 billion euros.

In the third fiscal quarter (to the end of November), Cropenergies increased sales to a good 328 million euros thanks to higher prices, thus more than compensating for declining volumes. Compared with the previous quarters, however, sales declined. Significantly higher purchasing costs for raw materials weighed on the balance sheet, causing operating profit to fall slightly to around 55.7 million euros. Below the line, Cropenergies earned 27 percent more at just under 44.7 million euros - this was due to the fact that significantly lower taxes were paid./ngu/mis