Global Sweeteners performs poorly in H1 2012

Keyword: sweeteners, corn, underwent, profits, starch
Publish time: 13th November, 2012      Source: CCM
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  On Aug. 30, 2012, Global Sweeteners Holdings Limited (Global Sweeteners) published its H1 2012 report that the company suffered a USD13.8 million loss in H1 2012 while it got a net profit of USD13.2 million in H1 2011. The loss was mainly caused by the overall poor performance of products of Global Sweeteners. The increase in the sales price of its cron products failed to catch up the increase in the cost of corn in H1 2012. As a result, the gross profit margins of corn starch,glucose syrup, crystal glucose and maltodextrin were 7.6%, 15.1%, 8.1% and 10.3% in H1 2012 while they were 21.9%, 16.3%, 15.2% and 14.8% respectively in H1 2011.


  On Aug. 31, 2012, Global Bio-chem Technology Group Co., Ltd. (Global Bio-chem) issued its H1 2012 report, showing the company underwent a USD18.0 million loss in H1 2012, which was mainly caused by the increasing cost of corn and decreasing sales prices of its products in H1 2012. In detail, the average cost of corn of the company was USD291/t in H1 2012, up 12% year on year. But the sales prices of amino acids and polyols, main products of Global Bio-chem, witnessed decrease individually, leading to 27% and 184% decrease in the gross profit of the two products respectively.


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