GERMANY: Kamps predicts further growth in profits
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.
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