Natraceutical, the Spanish functional-foods company, said it doubled its first quarter net profits to EUR1.86m (US$2.37m), boosted by the integration of recently acquired peers, Obipektin and Overseal, into its business.
Moreover, the fast-growing Valencia, Spain-based concern said revenues should reach EUR100m this year, up from EUR46m reported in 2005, based on the EUR25m obtained in Q1. First quarter revenues showed a four-fold increase compared with EUR5.8m reported in the year-ago period, Natraceutical said. EBITDA for the full year is expected to come in at EUR16m, up almost four fold from EUR4.23m reported last year.
Earnings Before Interest, Tax, Depresiation and Amortisation (EBITDA) grew 150% to EUR3.6m, the company added.
Natraceutical noted that it is obtaining better-than-expected synergies and economies of scale from the purchase of Switzerland and UK-based Obipektin and Overseal respectively, completed last July.
The deals have expanded the group’s product portfolio and helped it strengthen its commercial ties, boosting profits.