In 2016, consolidated sales of Amsterdam Commodities N.V. (Acomo) increased by 0.1% to € 682.3 million (2015: € 681.6 million). The total gross margin increased by 4.1% and thereby increased our gross margin as a percentage of sales with 0.7 percentage points. The discontinuation of applying hedge accounting for Spices and Nuts had a positive effect on the margin (€ 0.9 million). The translation effect of the US dollar on the margin was negligible. For the full year 2016 net profit reached a very strong € 34.4 million, an increase of € 2.1 million versus 2015 (€ 32.3 million, + 6.6%).