08:32 AM EDT, 05/23/2025 (MT Newswires) -- Sucro ( SUGRF ) reported Friday a decline in net income and revenue for the first quarter.

The sugar refiner posted net income of US$12.0 million, or US$0.50 per diluted share, compared with US$19.7 million, or US$0.83 per diluted share. Revenue fell to US$155.2 million from US$184.8 million while sugar deliveries declined to 176,319 metric tons from 182,865 metric tons. Adjusted EBITDA was down to US$9.9 million from US$10.9 million.

"Our results in the first quarter of 2025 reflect the strength of our integrated supply chain model and the continued execution of our growth strategy," said Jonathan Taylor, founder and CEO of Sucro ( SUGRF ). "We are seeing sustained momentum in our core markets, alongside disciplined cost management and a focus on margin-enhancing business."

The company said it remains focused on optimizing its refining operations, managing supply chain costs, and expanding commercial relationships with major food and beverage customers. Sucro ( SUGRF ) said it continues to monitor global trade developments, including tariff and cross-border policy changes between the U.S., Canada and Mexico.

Sucro's ( SUGRF ) share price gained 5.2% on Thursday to $12.10 on the TSXV.