Naturex Reports Strong Financials

AVIGNON, FranceNaturex posted record revenues and results for the first half of 2010, continuing its growth trajectory while successfully integrating the Ingredients division of Natraceutical, acquired six months ago.

Revenues for the first six months of 2010 hit 112.1 million (US$142.6 million), up 17 percent in current currencies and 14.7 percent in constant currencies. Operating income was up significantly, rising 40 percent to hit 14.3 million (US$18.2 million) as of June 30, 2010. Operating margin is at 12.7 percent, up 2.1 points like-for-like. The growth was attributed to the integration of the Natraceutical business, as well as streamlining operations to achieve economies of scale. Finally, net profit for the first six months of 2010 was 7.6 million (US$9.7 million), up 45.7 percent and higher than Naturexs proforma profit for all of 2009.

Naturex confirmed its high expectations for its activities and margins for the year. It noted a return to its earnings levels prior to the Natraceutical Ingredients division acquisition will require an increase of close to four points in its operating margin, which the group aims to achieve in three years. However, it is already there after only six months.