1 October 2007 - Naturex posted revenue growth of 20.5% in the first half of 2007 (27.3% at constant USD rates). Proforma growth stood at 7.8% at current USD rates and 13.9% at constant USD rates.
Neutraceutical activity accounted for 57.7% of revenues, while the Group’s food and flavor business represented 29.7%, pharmaceuticals 6.6% and cosmetics 2.2%.
Growth was robust on all markets, in particular in Asia (+57.1%) thanks to the success of the Group’s Singapore office which opened in 2005, and in Europe (+63.3%) which now accounts for 34.4% of revenues following the broadening of the Group’s scope and strong organic growth.
Operating income was up 5.1% to EUR 4.1 million, a 13.2% proforma increase.
Lastly, net income, which was impacted by the increase in both the average tax rate and financial expenses, came out at EUR 2.1 million, to stand at 5.0% of revenues.
Strategy and outlook
Naturex has stepped up its R&D in the food and flavor and neutraceuticals industries, notably with products from new plants for which patents will be filed. Moreover, following the acquisition of Hammer Pharma, the pharmaceutical industry is now an additional strategic avenue for development.
Naturex will continue to broaden its sales network by setting up a subsidiary in China and opening a sales office in Germany which will also cover the Benelux countries.
At the same time, the Group should soon finalize the acquisition announced in the USA and continue to pursue its external development.
Lastly, Naturex is to set up the “Naturex foundation”, the aim of which is to assist the populations of those countries where Naturex purchases its raw materials. The foundation clearly reflects Naturex’s global ethics policy and the Group’s unfailing commitment to the UN Global Compact and its recently-obtained environmental certification.