ITALY: Barilla reports drop in pre-tax profit, despite rise in turnover
Italian biscuit and pasta producer Barilla has recorded a turnover of €3.44bn (US$3.97bn) for 2002, compared to €2.38bn in the previous year. Barilla reported earnings before interest, tax, depreciation and amortisation (EBITDA) of €386m, compared to €317m a year earlier. The company's net debt increased to €1.59bn, compared to €467m in 2001. The debt includes €553m expenditure for acquisitions and a debt of €789m related to its German bakery products subsidiary Kamps.
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