(Updates with additional figures)
ATHENS (Thomson Financial) - Greece's cosmetics and goods wholesaler
Sarantis full year 2007 net profits grew 40 pct year-on-year to 31.92 mln eur,
on account of strong sales from its developed markets, beating forecasts.
A Thomson Financial News analysts consensus poll saw net profits hitting a
median forecast of 28.5 mln eur and falling in a range of 24.1-30.6 mln eur.
The bottom line was boosted by a one-off gain from the company's disposal of
its 49 pct stake in Marinopoulos.
Sales posted a 12.2 pct increase from 2006 and came in at 241.6 mln eur
which was at the lower end of the forecast range, that saw sales in the
241-249.7 mln eur range.
Geographically, Sarantis said that its developed markets of Poland, Romania,
Bulgaria, Serbia, Czech Republic, FYROM and Hungary continued to post solid
performance and posted 50.9 pct growth over 2006.
It added that its fragrances & cosmetics division posted the largest
increase from 2006. Sales jumped 20.3 pct while its its household products
divisions posted 17 pct growth. Together, the two divisions represent roughly 84
pct of total turnover.
EBITDA rose to 37.5 mln eur, posting a 14 pct increase year-on-year, which
was in line with expectations.
Sarantis noted that earnings per share grew 40 pct from 2006 to 0.83 eur per
share.
Source: Euro2day.gr Newswire
cheryl.novak@thomson.com
cn/lam
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