NZ Sugar Company boosts profits on higher exports and lower costs from Chelsea factory

Fri, 24 May 2013

By Tina Morrison May 24 (BusinessDesk) – New Zealand Sugar Company, which operates the iconic pink Chelsea Sugar refinery on Auckland’s Waitemata Harbour, boosted profit last year as it benefitted from higher exports and lower costs. The company’s profit rose 15.7 percent to $21.4 million in the year ended Dec. 31, 2012, as revenue fell 5.8 percent and costs dropped 8.8 percent, according to accounts filed with the Companies Office. Its gross profit margin expanded to 18.6 percent from 15.9 percent. New Zealand Sugar, which processes about 2...

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