17 May 2007
Moscow - The financial situation at Amtel Vredestein NV improved markedly in the year to December 2006. The company has released its prliminary results for the 12-month period. They show strong revenue growth and strong cash flow, but the company still managed to report a net loss for the period due to high interest payments.
Sales were up by 23 percent to $823 million (€609 million), while the gross profit margin increased by a couple of percentage points to 22.8 percent. Operating profit doubled to $36 million, but the net loss was still $7 million, albeit substantially lower than the $81 million reported a year earlier.
A-V also released preliminary figures for the first quarter of 2007, which showed similar healthy growth, with gross profit margins growing still further, to 25.2 percent. Sales were up by 30 percent, to $212 million in the three months.
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