NET PROFIT INCREASES BY 29 % AT 17% TURNOVER GROWTH
ARSEUS ON COURSE FOR FURTHER PROFITABLE GROWTH
Waregem (Belgium), 26 August 2008 – Today, Arseus publishes its results for the first half of 2008 in a separate document that may be consulted in the appendix to this press release and on www.arseus.be. This press release contains the key figures with notes.
In the first half of 2008 the consolidated turnover rose by 17% to € 170.5 million. Organic growth was 7%, showing once again that Arseus is a non-cyclical company. Net profit and EBITDA in the first half of 2008 grew even more rapidly at 29% and 19% respectively.
The growth of turnover and profit was mainly due to the introduction of new own products and innovative concepts. In the first half of 2008, Arseus focused strongly on the operational integration of the acquired companies. Additionally, several operations were carried out aimed at improving operational performance. Furthermore, two companies were acquired (Julie-Owandy in France and Tamda in the Czech Republic).
The results presented confirm the managements’ conviction that Arseus operates in a stable sector, which will contribute to further profitable growth in the next few years.