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Rise in Interim Profit and Sales at Parmalat

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Rise in Interim Profit and Sales at Parmalat

Rise in Interim Profit and Sales at Parmalat
August 03
10:35 2012

Parmalat has reported a 9.4% rise in EBITDA to Eur183.3 million on revenue up 6.1% to Eur2.28 billion for the first half of 2012, aided by increases in sales prices implemented last year in the Italy-based international dairy group’s main countries and higher sales volumes in Australia, Russia and Africa.

In Italy EBITDA grew by 16.0% to Eur45.9 million on flat sales of Eur482.4 million compared with the same period last year. In the Other Countries in Europe sales region, which includes the subsidiaries in Russia, Portugal and Romania, net revenues increased by 7.7% to Eur82.8 million and EBITDA rose from Eur3.3 million to Eur6.5 million chiefly as a result of a strong performance by the Russian subsidiary, which benefited from an incisive sales policy and the lower prices for raw milk.

Group EBIT at Eur96.2 million was down slightly from the Eur96.6 million reported at June 30, 2011, as operational improvements were offset by lower non-recurring activities.

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