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August 2011 | Angeline Albert
supply chain management business NobleGroup
has reported record revenue for the first six months of 2011.
which produces and delivers raw materials as well as managing the supply chain
of these commodities for other firms, reported an increase of 63 per cent in
revenue to US$40 billion (£24.5 billion) for the first six months of 2011 to 30
June, when compared to the same period last year. Operating income from supply
chain operations for the six-month period was US$894.7 million (£549 million),
an increase of 38 per cent over the same period in 2010.
commodity prices and higher sales, boosted by increased production capacity were
behind the growth in revenue.
income was affected by drought in Brazil, which lowered the amount it could
crush at its sugar mills. Poor weather conditions also led to a delay in
planting, which also affected crushing volumes. In June the company purchased
two additional sugar and ethanol mills, doubling its crushing capacity in the
Ricardo Leiman said in a statement: “We are delighted that we are able to
report record first-half revenue, volume and operating income in a difficult
and volatile business environment. Our new businesses and acquisitions are
starting to illustrate their longer-term potential, broadening and deepening
the group’s capabilities.”
at the company’s cocoa division grew by 33 per cent when compared to the
previous year, primarily due to the rising price of the commodity. An embargo on exports of cocoa from the Ivory Coast
was removed in April, which benefited the business.