Avebe profits soar by 60%

- Last updated on GMT

Related tags: Potato

Starch firm Avebe has pulled in €32.1m in net profit for 2011/2012, up 60% on the previous year.

The firm recorded a turnover of €595.5m for the full financial year.

Good market prices were achieved thanks to the good harvest that brought an end to a previous scarcity of potato starch, Avebe said.

Bert Jansen, chairman of the board and CEO of Avebe, said the solid results were not only thanks to favourable price developments in the market but also good sales volumes.

“This made it possible to achieve an above-average performance-based price. That has also enabled us to increase the investments that will make it possible for Avebe to substantially reduce costs in the years to come,”​ Jansen said.

Investments in cost reduction will continue in order to offer the firm’s growers good prospects and secure a more sustainable future, he said.

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