LISTED sugar miller Roxas Holdings Inc. (RHI) said earnings before interest, taxes, depreciation and amortization (EBITDA) and consolidated net income both grew by 5 percent in the first six months of crop year 2017-2018 ending March 31. Consolidated revenues grew 8 percent to P5.3 billion against a backdrop of low sugar prices in the first quarter and a drop in national sugar production. Earlier this year, the sugar industry reeled from low prices amid increased competition brought by lower-priced high fructose corn syrup (HFCS). “The shift in demand allowed the sugar industry to regain lost market share. With this development, we expect sugar prices to improve,” Roxas said.

Source: Manila Times May 08, 2018 16:18 UTC