• Net profit dropped to EUR33.4m
  • Sales up 5.9%
  • Outlook confirmed

Parmalat has booked a fall in net profit during the first quarter of the year, despite higher sales and EBITDA.

The Italian dairy group, in which Lactalis owns a majority stake, said net profit dropped to EUR33.4m, down from EUR50m last year. Profits were hit by lower payments from subsidiaries, the company said on Friday (11 May).

However, EBITDA rose 7% to EUR75.1m and net sales gained 5.9% to EUR1bn, the company added.

The company confirmed its outlook for the full year. "For 2012, at constant exchange rates, growth estimates of about 3%, already foreseen both for net revenues and EBITDA, are confirmed," Parmalat said.

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