Danish Potato Starch Manufacturer KMC announces results 2007/2008

Danish Potato Starch manufacturer KMC's results for the fiscal year 2007/08* are one of the best in KMC’s history, president Uffe Andreasen announces.

The fiscal year that ended August 31 exceeded the budgeted result with a little over 10%, which is more than a doubling of last year’s result.

For starch and starch derivatives the year started with favorable prices that followed the general development for agricultural crops. The following 6 months brought slightly declining prices.

Also for potato dehydrates the expectations were basically met.

The harvest looks good in Denmark this year and we expect a small increase in sold quantities in the coming years. The unstable global financial situation will lead to widespread instability for agricultural raw material prices, Uffe Andreasen expresses.

He does, however, venture a guarded prediction that the slightly falling prices seen this fall will be replaced by stabilization in the spring.