Puratos reports strengthened global position
December 9, 2011 By Bakers Journal
December 9, 2011 Groot-Bijgaarden, Belgium – The Belgian Puratos Group's estimated annual results are fully in line with its long-term growth ambition, despite challenging market conditions over the last year, the company reported.
Although the group experienced a somewhat slower volume growth and steep increases in the price of raw materials, projected recurring earnings before interest, depreciation and amortization are expected to hold steady over 2010 levels. An 11 per cent organic sales growth rate and a two per cent reduction in operational costs on net sales helped Puratos post similar projected earnings over the previous year.
“We are pleased with the expected results. 2011 has been a very tough and challenging year. The business environment is clearly becoming more challenging in the wake of the current economic uncertainty and volatility, but Puratos feels it can withstand this successfully thanks to our strong and innovative product portfolio, our diverse customer base and our presence in strong growth markets, the BRIC [Brazil, Russia, India and China] countries and other emerging markets," said Daniel Malcorps, CEO of the Puratos Group.
Puratos credits increased worldwide investments in production, research and development and customer support, combined with a strong product portfolio and continuous innovation, for this year's results.
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