Industrial bakery group Kamps today [Wednesday] reported a strong rise in profits to €107m (US$92.48m) for 2001.

Sales climbed by 13% to €1.7bn, or by 5% if the impact of acquisitions is stripped out of results. EBITA (earnings before interest, tax and amortisation) reached €107m, up from €103.4m in 2000.

The group forecast considerable growth in earnings for 2002. "For the current year, Kamps foresees organic revenue growth of five percent and a substantial increase in EBITA as initiatives started in 2001 contribute to results," it said in a statement.

The company plans to issue €300m in senior notes due 2009. The offering should be complete by m id-February.