AGRANA successful - Good results in the first six monthsDate: 17.10.2001
First half of the current financial year 2001/02 (1 March to 31 August 2001)
We can be satisfied with developments during the first half of the Group’s current financial year, which ran from 1 March through 31 August 2001. Revenues, EBIT and consolidated profit before and after tax were all substantially up on the same period of last year.
Increase of sales and operating profit results from a substantial growth in both sugar and starch sales and turnover of animal feed. Our financial result was substantially up on the year as a result of reduced refinancing volumes and lower interest rates. That increased pre-tax profit and also net profit for the year.
Figures for the first half of the current financial year (€ in millions):
|Revenues||Mio. €||403,4||360,2||+ 12,0 %|
|EBIT||Mio. €||27,0||25,6||+ 5,5 %|
|Profit before tax||Mio. €||21,0||14,9||+ 40,9 %|
|Consolidated net profit
for the year
|Mio. €||13,6||9,7||+ 40,2 %|
|Investment in tangible
fixed assets p.a.
|Mio. €||23,0 (planned)||38,2 (actual)||- 39,8 %|
Outlook for the 2001/02 financial year
We expect to record consolidated revenues of € 805 million during the 2001/02 financial year (2000/01: € 760.2 million). Despite a slight deterioration in economic conditions during the second half of the financial year, we are confident of being able to maintain the healthy profit levels achieved by the Group in 2000/01.