CSM Q3 2011 Interim Management Statement

CSM's third quarter has been impacted by significantly weaker consumer demand in most markets, which, following the financial crisis, deteriorated over the quarter. In addition, raw material prices continued to rise This difficult trading environment put further pressure on volumes and pricing. This was compounded by the drive for increased promotional activities to sustain volume. The outcome for the third quarter resulted in lower than planned volumes and margins in our key markets, EBITA amounted to � 30.3 million. For the remainder of the year we do not expect any improvement in the trading environment.

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