Italian meat processing and catering giant Cremonini has recorded a turnaround in profit, generating €500,000 (US$491,000) for the H1 2002 compared to a loss of €11.8m year on year.

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According to a report in local newspaper Asca, the firm generated a 16.1% increase in consolidated turnover to €740m in the H1 2002.

Earnings before interest, tax, depreciation and amortisation (EBITDA) reached €46m for the first half of 2002, up from €34.1m year on year. Earnings before interest and tax (EBIT) meanwhile totalled €19.5m, nearly doubling the €10.4m recorded in the H1 of the previous year.

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