date:Sep 17, 2012
to last year but operating profit will be sharply lower reflecting restructuring charges and the continuing operational challenges faced by AB Mauri, the yeast and bakery ingredients business.
The European yeast market has continued to be extremely competitive and our margins remain constrained by an inability to recover fully raw material cost increases. In Asia, sales volumes in China were disappointing and key raw material costs, primarily molasses, remained at a high level. Progress was mad