PARIS, June 1 Reuters Tereos posted record annual sales and earnings on Thursday supported by high prices but the French sugar and ethanol group expressed caution regarding the sugar beet crop and strength of demand in 202324.

Tight global supplies sent global sugar futures to 1112 year highs in April while European prices were reaching record levels.

The company attributed the results to market momentum and an increase in prices across all its segments sugar, alcohol, ethanol, sweeteners and electricity strict cost control and well executed hedging strategies.

These factors helped the group, one of the world39;s largest sugar and ethanol producers, contend with significant increases in raw material and energy prices, it added.

Adjusted earnings before interest, tax, depreciation and amortisation EBITDA for the year to March 31 jumped by 62 at current exchange rates to 1.1 billion euros 1.21 billion.

A further expected rise in sugar prices would support Tereos39; business in 202324 but it was too early to forecast improved results, incoming Chief Executive Jorge Boucas told Reuters.

There is a positive trend but there is uncertainty about our customers39; sales. We must be careful about consumption which can have an impact on the markets, he said.

The final volume of the European sugar beet harvest which is threatened by delays, pest attacks and weather, also made it difficult to predict the upcoming season, Commercial Director Olivier Leducq said.

French…