LONDON (Thomson Financial) - IFR Capital Plc. said its first half pretax
loss widened almost five-fold, despite a rise in revenues, due to increase in
raw material prices and difficult negotiations with retail customers.
For the six months to end-June, the company posted pretax loss of 21.34
million euros from 4.43 million euros last year. Cost of materials rose to
222.50 million euros from 67.6 million euros.
Revenues rose to 374.01 million euros from 164.3 million euros, and in line
with the company's expectations.
Taking the seasonality of the business into account, the company expects to
achieve sales of 763 million euros and an operating EBITDA of 52 million euros
for the full-year to end-December.
TFN.newsdesk@thomson.com
ypv/slm
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