Naturex Net Profits Up 45% in H1
Net profit for the first half of 2010 amounts to € 7.6 million, up 45.7% and higher than the group's proforma profit for the whole of 2009 (€ 6.8 million).
Aug 31 2010 --- Naturex, global leader in specialty plant-based natural ingredients, posted record revenues and results in the first half of 2010. Just six months after its acquisition of the Ingredients division of Natraceutical, the group has once again proven its ability to very rapidly integrate new subsidiaries and create value for its shareholders.
Revenues for the first six months of 2010 stand at € 112.1 million, up 17.0% in current currencies and 14.7% in constant currencies. Despite today's difficult economic backdrop, Naturex has a clear head start on its yearly targets for 2010 (growth of 5 to 10% like-for-like), and is now able to draw on a new, integrated sales network and a broader client base and range of products that pave the way for cross-selling. In a high-growth market that is set to stay thanks to increasing consumer demand for natural products, Naturex's capacity to develop customized products with a high value added is a fundamental advantage for the new entity.
Operating income for the group came in at € 14.3 million on June 30, 2010, an increase of more than 40%. Naturex's operating margin stands at 12.7%, up 2.1 points like-for-like. The group is already reaping the first fruits of its successful integration of the Ingredients division of Natraceutical, streamlining operations to generate economies of scale and applying its recognized expertise to its new subsidiaries.
Net profit for the first half of 2010 amounts to € 7.6 million, up 45.7% and higher than the group's proforma profit for the whole of 2009 (€ 6.8 million).
Naturex continues to enjoy a healthy financial structure and to pursue its investments in its future growth. Shareholders' equity stood at € 161.2 million at the end of June, for a net debt of € 106.6 million.
After a record first half, Naturex has confirmed its high expectations for its activities and margins. A return to its earnings levels prior to the acquisition will require an increase of close to four points in its operating margin which the group aims to achieve in three years. Just six months after the operation, it is already halfway there.
Naturex shareholders have until September 10, 2010 included to opt for the payment of their dividend (€0.11 per share) in the form of shares.
