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Numico Highlights Strong 3Q, Lands New Bank Loan
January 31, 2005
1 Min Read
Numico Highlights Strong 3Q, Lands New Bank Loan
ZOETERMEER, Netherlands RoyalNumico N.V. (AMS:NUM) detailed strong results for its third quarter 2004 andannounced a refinancing of its existing senior bank loan to terms more favorableto the company.
Highlights of the quarter results included the thirdconsecutive quarter of double-digit growth in its clinical nutrition division.According to the company, the 11.1-percent growth was attributable to progressin all regions and segments of the divisions operations, with notable resultsin South Europe and disease-specific products. Overall Numico sales grew 9.7percent in the quarter.
The company also reported the newly refinanced debt facilityincludes EUR $1 billion revolving credit as well as a variable interest raterange trimmed to half its previous range. Numico noted the new loan arrangementwill also result in lower upfront and commitment fees.
The improved terms and conditions reflect the companysimproved operations and lowered financial risk profile, reported Jean-Marc Huet,chief financial officer. More attractive terms and conditions will provide uswith significant reduction of our financial expenses and greater operationalflexibility.
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