Sugar profits at all time high

RUSSIA / FSU POLITICS - In Brief 19 May 2021 by Alex Teddy
On May 17 it was announced that sugar companies have made a bumper profit. This is ironic since the PM railed against companies for excessive profiteering only last week.Rusagro is a comestible company and it made USD 152 million in profit before EBITDA in Q1 2021. That is a YoY 100% increase in profit. Its profit margin is now 22%. Rusagro also sells meat and other foods. Rusagro's CEO said company can contribute a profit margin of at least 20% on sugar throughout 2021.Sugar prices have risen worldwide since Q1 2020. The government reacted with prices caps and export limits. VTB Capital estimates that Rusagro will make a record breaking profit in 2021. Rusagro's shares rose 3% on the LSE on May 17.

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