Rise in sugar costs hits Cosan profits

Reuters
By Inae Riveras
SAO PAULO Thu Feb 10, 2011 12:35pm EST

SAO PAULO (Reuters) - Cosan, the world's largest sugar and ethanol group, said on Thursday that net income fell 83 percent in the quarter ended December 31, mainly due to rising costs at its sugar operations.

The Brazil-based company reported a profit of 27.9 million reais ($17 million) in the quarter, from 167.1 million reais in the same period of 2009, according to a securities filing.

Read more