ATHENS (Thomson Financial) - Greece's Sarantis is currently eying nine
acquisition targets in its established markets and expects to conclude a few
deals in the coming months.
In a conference call on the cosmetics and household goods wholesaler's
full-year 2007 results, its management explained that all of the targets fit the
same profile.
Specifically, Sarantis aims to acquire brands, not networks, which offer
synergies with its current distribution channels. Moreover, it said they must be
solid businesses with good market share and sales profitability.
Management said another one of its focuses this year will be developing new
distribution networks in its "new" markets of Ukraine, Turkey and Russia.
Restructuring in these new countries has been completed and all relevant
costs were absorbed in 2007, so it hopes to achieve profits in 2009.
Updating analysts on its Mustang line and agreement with Estee Lauder,
Sarantis said Estee Lauder is planning on launching the line in Latin America
this year, but that it is still too early to make forecasts for 2008.
Finally, management said it will propose a 0.17 eur per share dividend at
its AGM, which represents a 40 pct increase from 2006.
Source: Euro2day.gr Newswire
cheryl.novak@thomson.com
cn/slj
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